Western New England Bancorp (NASDAQ:WNEB) Receives Consensus Rating of “Hold” from Analysts

Shares of Western New England Bancorp (NASDAQ:WNEB) have received an average rating of “Hold” from the four ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.50.

Several equities research analysts have recently weighed in on WNEB shares. Wall Street Zen upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Western New England Bancorp in a research report on Friday, August 7th. Finally, Piper Sandler increased their price target on Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th.

Insider Buying and Selling

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of Western New England Bancorp stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total value of $45,804.00. Following the completion of the sale, the director directly owned 5,800 shares in the company, valued at approximately $80,504. The trade was a 36.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.56% of the stock is owned by corporate insiders.

Institutional Trading of Western New England Bancorp

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in Western New England Bancorp during the second quarter worth $39,000. Sound Income Strategies LLC acquired a new position in shares of Western New England Bancorp during the first quarter valued at about $40,000. California State Teachers Retirement System boosted its position in shares of 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 worth $51,000 after purchasing an additional 2,607 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Western New England Bancorp by 95.7% in the 3rd 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 period. Finally, JPMorgan Chase & Co. grew its stake in shares of Western New England Bancorp by 51,300.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock valued at $81,000 after buying an additional 8,721 shares during the period. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $13.77 on Wednesday. The stock’s 50 day moving average is $13.92 and its 200 day moving average is $13.60. 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 firm has a market cap of $276.09 million, a P/E ratio of 16.39 and a beta of 0.77. Western New England Bancorp has a one year low of $10.78 and a one year high of $15.01.

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

Western New England Bancorp Announces Dividend

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