Western New England Bancorp (NASDAQ:WNEB) Research Coverage Started at Piper Sandler

Piper Sandler began coverage on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage issued a neutral rating and a $14.00 price objective on the financial services provider’s stock.

A number of other research analysts have also commented on the stock. Weiss Ratings upgraded shares of Western New England Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. Zacks Research upgraded shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.00.

Western New England Bancorp Stock Down 2.4%

Western New England Bancorp stock opened at $12.38 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a 1-year low of $7.63 and a 1-year high of $14.52. The company has a fifty day simple moving average of $13.23 and a 200 day simple moving average of $12.50. The company has a market cap of $250.82 million, a P/E ratio of 16.29 and a beta of 0.79.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $22.01 million during the quarter, compared to the consensus estimate of $18.62 million. Western New England Bancorp had a return on equity of 6.31% and a net margin of 11.64%. Research analysts anticipate that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, February 11th. Western New England Bancorp’s dividend payout ratio (DPR) is currently 36.84%.

Insider Transactions at Western New England Bancorp

In other news, Director Philip R. Smith sold 3,000 shares of Western New England Bancorp stock in a transaction on Friday, February 27th. The stock was sold at an average price of $13.17, for a total value of $39,510.00. Following the transaction, the director owned 7,497 shares in the company, valued at approximately $98,735.49. This trade represents a 28.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC increased its stake in shares of Western New England Bancorp by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock valued at $103,000 after buying an additional 726 shares during the period. Empowered Funds LLC boosted its position in Western New England Bancorp by 2.0% during the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock worth $1,420,000 after buying an additional 2,171 shares during the period. Bridgeway Capital Management LLC grew its holdings in Western New England Bancorp by 1.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock worth $2,822,000 after acquiring an additional 2,171 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Western New England Bancorp by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock worth $864,000 after acquiring an additional 2,405 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Western New England Bancorp by 95.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 2,446 shares during the period. 67.95% of the stock is currently owned by institutional investors and hedge funds.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.