Western New England Bancorp (NASDAQ:WNEB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Western New England Bancorp (NASDAQ:WNEB) has received a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the company, 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 brokerages that have updated their coverage on the stock in the last year is $15.00.

A number of equities analysts have weighed in on WNEB shares. Zacks Research cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Hovde Group raised Western New England Bancorp to a “hold” rating in a report on Thursday, April 2nd. Seaport Research Partners lifted their price objective on Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings raised Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $15.00 target price on shares of Western New England Bancorp in a research note on Wednesday, April 29th.

Western New England Bancorp Price Performance

NASDAQ WNEB opened at $13.94 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a fifty-two week low of $9.56 and a fifty-two week high of $14.72. The business has a 50 day moving average price of $13.70 and a two-hundred day moving average price of $13.39. The stock has a market cap of $280.47 million, a PE ratio of 15.66 and a beta of 0.75.

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

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio is 31.46%.

Insiders Place Their Bets

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm’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 completion of the transaction, the senior vice president directly owned 14,048 shares of the company’s stock, valued at $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Western New England Bancorp

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Western New England Bancorp by 103.6% in the second quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock valued at $4,007,000 after buying an additional 220,852 shares during the last quarter. Jane Street Group LLC lifted its holdings in Western New England Bancorp by 190.1% during the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after buying an additional 52,858 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Western New England Bancorp in the 3rd quarter worth approximately $600,000. Federated Hermes Inc. grew its position in shares of Western New England Bancorp by 30.9% in the 4th quarter. Federated Hermes Inc. now owns 204,989 shares of the financial services provider’s stock worth $2,587,000 after acquiring an additional 48,395 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Western New England Bancorp in the 3rd quarter valued at approximately $480,000. Institutional investors own 67.95% of the company’s stock.

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.