Western New England Bancorp (NASDAQ:WNEB) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also weighed in on WNEB. Piper Sandler increased their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Western New England Bancorp in a research report on Friday, August 7th. Zacks Research downgraded Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Seaport Research Partners lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Western New England Bancorp currently has an average rating of “Hold” and an average target price of $15.50.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $13.93 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $279.30 million, a P/E ratio of 16.58 and a beta of 0.76. The business has a 50-day moving average of $14.00 and a 200-day moving average of $13.61. Western New England Bancorp has a 1 year low of $10.78 and a 1 year high of $15.01.

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

Western New England Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is 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 currently 33.33%.

Insider Activity at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 14,048 shares of the company’s stock, valued at approximately $188,524.16. The trade was a 20.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in shares of Western New England Bancorp in the 2nd quarter valued at about $829,000. Odyssean LLC acquired a new position in shares of Western New England Bancorp during the second quarter worth about $177,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Western New England Bancorp during the second quarter worth about $1,516,000. Vise Technologies Inc. bought a new position in shares of Western New England Bancorp during the second quarter worth about $215,000. Finally, BlackRock Inc. bought a new position in shares of Western New England Bancorp during the second quarter worth about $26,266,000. 67.95% of the stock is owned by institutional investors and hedge funds.

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.