Brokerages Set Western New England Bancorp (NASDAQ:WNEB) Price Target at $15.50

Western New England Bancorp (NASDAQ:WNEB) has received a consensus recommendation of “Hold” from the four ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $15.50.

A number of research firms recently weighed in on WNEB. Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Piper Sandler upped 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 research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th.

Insider Activity

In other news, Director Philip Smith sold 3,300 shares of Western New England Bancorp stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.88, for a total value of $45,804.00. Following the transaction, the director owned 5,800 shares of the company’s stock, valued at $80,504. The trade was a 36.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.56% of the company’s stock.

Hedge Funds Weigh In On Western New England Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in shares of Western New England Bancorp during the 1st quarter valued at $40,000. California State Teachers Retirement System increased its position in Western New England Bancorp by 265.5% during the 2nd quarter. California State Teachers Retirement System now owns 3,589 shares of the financial services provider’s stock valued at $51,000 after buying an additional 2,607 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Western New England Bancorp in the second quarter valued at about $39,000. BNP Paribas Financial Markets raised its stake in Western New England Bancorp by 95.7% in the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,446 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in 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 worth $103,000 after acquiring an additional 726 shares in the last quarter. 67.95% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Stock Performance

Shares of NASDAQ:WNEB opened at $13.77 on Wednesday. The firm’s 50 day simple moving average is $13.92 and its 200-day simple moving average is $13.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. Western New England Bancorp has a one year low of $10.78 and a one year high of $15.01. The firm has a market cap of $276.09 million, a PE ratio of 16.39 and a beta of 0.77.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $27.11 million during the quarter, compared to the consensus estimate of $22.74 million. As a group, equities analysts predict that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 12th. Western New England Bancorp’s dividend payout ratio (DPR) is 33.33%.

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.