Western New England Bancorp (NASDAQ:WNEB) Receives $15.50 Consensus Price Target from Brokerages

Shares of Western New England Bancorp (NASDAQ:WNEB) have received an average recommendation of “Hold” from the four research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $15.50.

WNEB has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Wall Street Zen lowered shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Seaport Research Partners cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th.

Insider Activity

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total transaction of $49,385.60. Following the sale, the senior vice president owned 14,048 shares in the company, valued at $188,524.16. This represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western New England Bancorp

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Western New England Bancorp in the second quarter valued at approximately $26,266,000. Geode Capital Management LLC grew its position in shares of Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after buying an additional 220,852 shares during the period. Fourthstone LLC grew its position in shares of Western New England Bancorp by 11.3% during the 4th quarter. Fourthstone LLC now owns 319,953 shares of the financial services provider’s stock worth $4,038,000 after buying an additional 32,560 shares during the period. State Street Corp grew its position in shares of Western New England Bancorp by 7.1% during the 4th quarter. State Street Corp now owns 268,814 shares of the financial services provider’s stock worth $3,392,000 after buying an additional 17,937 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in shares of Western New England Bancorp by 1.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock valued at $2,822,000 after acquiring an additional 2,171 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Price Performance

Shares of WNEB opened at $13.93 on Friday. Western New England Bancorp has a 1 year low of $10.78 and a 1 year high of $15.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $279.30 million, a price-to-earnings ratio of 16.58 and a beta of 0.76. The business has a 50-day moving average of $14.00 and a 200-day moving average of $13.61.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%.The company had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. As a group, equities research analysts anticipate that Western New England Bancorp will post 0.94 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 12th. Western New England Bancorp’s payout ratio is currently 33.33%.

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.