Western New England Bancorp (NASDAQ:WNEB) has earned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.50.
A number of research analysts recently issued reports on WNEB shares. Zacks Investment Research lowered Western New England Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine upgraded Western New England Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $11.50 target price on shares of Western New England Bancorp in a report on Friday, July 28th.
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A number of hedge funds and other institutional investors have recently made changes to their positions in WNEB. Teachers Advisors LLC purchased a new stake in Western New England Bancorp during the 4th quarter worth about $328,000. Nationwide Fund Advisors lifted its holdings in Western New England Bancorp by 32.5% during the 1st quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock worth $190,000 after buying an additional 4,428 shares during the last quarter. First Trust Advisors LP purchased a new stake in Western New England Bancorp during the 1st quarter worth about $225,000. Bank of New York Mellon Corp lifted its holdings in Western New England Bancorp by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 161,219 shares of the financial services provider’s stock worth $1,694,000 after buying an additional 5,980 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Western New England Bancorp during the 1st quarter worth about $201,000. 56.02% of the stock is owned by institutional investors.
Western New England Bancorp (NASDAQ:WNEB) remained flat at $10.40 on Wednesday. The company’s stock had a trading volume of 104,736 shares. The stock has a market cap of $311.79 million, a P/E ratio of 24.02 and a beta of 0.41. Western New England Bancorp has a 1-year low of $7.45 and a 1-year high of $10.95. The firm’s 50-day moving average price is $9.91 and its 200-day moving average price is $10.20.
Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Friday, July 28th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The company had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $16.74 million. Western New England Bancorp had a net margin of 15.93% and a return on equity of 5.47%. On average, equities analysts forecast that Western New England Bancorp will post $0.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is 30.00%.
Western New England Bancorp Company Profile
Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.
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