Western New England Bancorp (NASDAQ:WNEB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Western New England Bancorp (NASDAQ:WNEB) have received an average recommendation of “Moderate Buy” from the four brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $15.00.

WNEB has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Western New England Bancorp in a research report on Wednesday, April 29th. Hovde Group raised shares of Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. Zacks Research lowered shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Seaport Research Partners boosted their target price on shares of Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th.

Western New England Bancorp Trading Up 0.6%

NASDAQ:WNEB opened at $13.55 on Thursday. Western New England Bancorp has a 12 month low of $8.52 and a 12 month high of $14.52. The firm has a market cap of $272.63 million, a price-to-earnings ratio of 15.22 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $13.60 and its 200-day moving average is $13.24.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. The company had revenue of $21.82 million for the quarter, compared to analyst estimates of $21.96 million. Equities analysts anticipate that Western New England Bancorp will post 1 EPS for the current year.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.28 dividend on an annualized basis and a yield of 2.1%. Western New England Bancorp’s payout ratio is 31.46%.

Insider Transactions at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total transaction of $49,385.60. Following the transaction, the senior vice president owned 14,048 shares of the company’s stock, valued at approximately $188,524.16. The trade was a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.56% of the company’s stock.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of WNEB. Elizabeth Park Capital Advisors Ltd. acquired a new stake in Western New England Bancorp during the third quarter worth $1,592,000. Teton Advisors LLC acquired a new stake in Western New England Bancorp during the third quarter worth $805,000. MetLife Investment Management LLC boosted its stake in Western New England Bancorp by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock worth $103,000 after buying an additional 726 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Western New England Bancorp during the second quarter worth $102,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Western New England Bancorp during the second quarter worth $93,000. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Company Profile

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.