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

Shares of Western New England Bancorp (NASDAQ:WNEB) have earned a consensus recommendation of “Moderate Buy” from the four brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $15.00.

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

Insider Transactions at Western New England Bancorp

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,680 shares of Western New England Bancorp stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the sale, the senior vice president directly owned 14,048 shares in the company, valued at $188,524.16. The trade was a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.56% of the stock is owned by company insiders.

Institutional Trading of Western New England Bancorp

A number of institutional investors have recently added to or reduced their stakes in WNEB. Russell Investments Group Ltd. acquired a new stake in Western New England Bancorp in the second quarter valued at approximately $39,000. Sound Income Strategies LLC bought a new position in shares of Western New England Bancorp in the first quarter valued at approximately $40,000. BNP Paribas Financial Markets raised its position in shares of 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 purchasing an additional 2,446 shares during the period. JPMorgan Chase & Co. raised its position in shares of Western New England Bancorp by 51,300.0% in the second quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 8,721 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Western New England Bancorp in the second quarter valued at approximately $93,000. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Western New England Bancorp Trading Up 0.6%

Western New England Bancorp stock opened at $13.55 on Thursday. The firm’s 50-day moving average is $13.60 and its 200-day moving average is $13.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. Western New England Bancorp has a 1 year low of $8.52 and a 1 year high of $14.52. The company has a market cap of $272.63 million, a P/E ratio of 15.22 and a beta of 0.76.

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

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $0.07 dividend. The ex-dividend date 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%.

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.