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

Western New England Bancorp (NASDAQ:WNEB) has been assigned a consensus recommendation of “Moderate Buy” from the four research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.00.

WNEB has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Western New England Bancorp in a report on Wednesday, April 29th. Seaport Research Partners increased their target price on shares of Western New England Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Hovde Group raised shares of Western New England Bancorp to a “hold” rating in a research note on Thursday, April 2nd.

Western New England Bancorp Trading Down 1.5%

Shares of Western New England Bancorp stock opened at $13.39 on Friday. Western New England Bancorp has a 12-month low of $8.52 and a 12-month high of $14.52. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The stock has a market cap of $269.41 million, a PE ratio of 15.05 and a beta of 0.79. The company has a 50-day moving average of $13.40 and a two-hundred day moving average of $13.03.

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

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio (DPR) is 31.46%.

Insider Buying and Selling

In other news, Director Philip R. Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.17, for a total transaction of $39,510.00. Following the completion of the transaction, the director directly owned 7,497 shares of the company’s stock, valued at $98,735.49. This trade represents a 28.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Darlene M. Libiszewski sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total transaction of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares of the company’s stock, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC increased its stake in shares of Western New England Bancorp by 9.8% during the 4th quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 726 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Western New England Bancorp by 3.2% during the 1st quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 1,884 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Western New England Bancorp by 2.0% during the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock worth $1,420,000 after purchasing an additional 2,171 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Western New England Bancorp by 1.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock worth $2,822,000 after purchasing an additional 2,171 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Western New England Bancorp by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock worth $864,000 after acquiring an additional 2,405 shares during the period. 67.95% of the stock is owned by hedge funds and other institutional investors.

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.