Western New England Bancorp (NASDAQ:WNEB) PT Raised to $8.50

Western New England Bancorp (NASDAQ:WNEB) had its target price raised by analysts at Piper Sandler from $7.00 to $8.50 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 0.12% from the stock’s previous close.

Western New England Bancorp Stock Performance

Shares of WNEB opened at $8.49 on Wednesday. The stock has a market capitalization of $183.64 million, a PE ratio of 14.15 and a beta of 0.69. Western New England Bancorp has a 12-month low of $6.00 and a 12-month high of $9.25. The business’s fifty day moving average price is $6.90 and its 200 day moving average price is $7.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.06. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.74%. The firm had revenue of $30.64 million for the quarter, compared to analyst estimates of $18.22 million. Equities research analysts forecast that Western New England Bancorp will post 0.49 EPS for the current year.

Institutional Investors Weigh In On Western New England Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in shares of Western New England Bancorp by 808.9% in the 4th quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 4,465 shares during the period. Janney Montgomery Scott LLC bought a new position in Western New England Bancorp in the 1st quarter worth approximately $85,000. Quadrature Capital Ltd increased its position in Western New England Bancorp by 50.9% in the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 7,482 shares during the period. ST Germain D J Co. Inc. increased its position in Western New England Bancorp by 19.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 3,585 shares during the period. Finally, Ritholtz Wealth Management raised its stake in Western New England Bancorp by 8.7% during the 4th quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 1,917 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.