Western New England Bancorp (NASDAQ:WNEB) Stock Rated “Hold” by Wall Street Brokerages

Western New England Bancorp (NASDAQ:WNEB) has been given a consensus recommendation of “Hold” by the four analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.50.

Several brokerages have commented on WNEB. Piper Sandler raised their price target on shares of Western New England Bancorp from $15.00 to $15.50 and gave the company 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 report on Friday, August 7th. Wall Street Zen upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Seaport Research Partners cut Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th.

Insider Buying and Selling

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of the 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 owned 5,800 shares in the company, valued at approximately $80,504. This trade represents a 36.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Western New England Bancorp

Several hedge funds have recently made changes to their positions in WNEB. Sound Income Strategies LLC bought a new stake in Western New England Bancorp in the first quarter valued at $40,000. Odyssean LLC bought a new position in Western New England Bancorp in the 2nd quarter worth $177,000. Vise Technologies Inc. purchased a new stake in shares of Western New England Bancorp in the 2nd quarter worth about $215,000. Deutsche Bank AG bought a new stake in shares of Western New England Bancorp during the 2nd quarter valued at about $239,000. Finally, Sei Investments Co. bought a new stake in shares of Western New England Bancorp during the 1st quarter valued at about $265,000. 67.95% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Trading Up 0.7%

Shares of WNEB opened at $13.70 on Friday. The business’s 50-day moving average price is $13.78 and its 200-day moving average price is $13.74. Western New England Bancorp has a twelve month low of $10.78 and a twelve month high of $15.01. The stock has a market cap of $274.63 million, a PE ratio of 16.31 and a beta of 0.78. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18.

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

Western New England Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, August 12th. Western New England Bancorp’s payout ratio is currently 33.33%.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc is the holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. Through its banking subsidiary, the company provides financial services to individuals, families and businesses in western Massachusetts and northern Connecticut.

Westfield Bank offers deposit products, including checking, savings, money market and time deposit accounts, as well as residential mortgage, commercial real estate, commercial business and consumer loans.