Western New England Bancorp, Inc. (NASDAQ:WNEB) Given Consensus Recommendation of “Hold” by Brokerages

Western New England Bancorp, Inc. (NASDAQ:WNEB) has received a consensus rating of “Hold” from the four analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.00.

Several equities research analysts recently commented on the company. Seaport Res Ptn cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Sandler raised their target price on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Janney Montgomery Scott cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th.

Western New England Bancorp Stock Down 0.6 %

WNEB stock opened at $8.77 on Friday. The firm’s fifty day moving average is $8.38 and its 200 day moving average is $7.41. The firm has a market cap of $186.98 million, a PE ratio of 14.62 and a beta of 0.69. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%. The firm had revenue of $30.64 million for the quarter, compared to analysts’ expectations of $18.22 million. On average, research analysts forecast that Western New England Bancorp will post 0.53 EPS for the current year.

Western New England Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is 46.67%.

Hedge Funds Weigh In On Western New England Bancorp

Several large investors have recently bought and sold shares of WNEB. Janney Montgomery Scott LLC acquired a new stake in Western New England Bancorp during the 1st quarter worth approximately $85,000. Legato Capital Management LLC lifted its holdings in shares of Western New England Bancorp by 39.0% during the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 6,021 shares during the period. ST Germain D J Co. Inc. grew its position in Western New England Bancorp by 19.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after buying an additional 3,585 shares during the last quarter. Quadrature Capital Ltd increased its stake in Western New England Bancorp by 50.9% in the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock valued at $170,000 after buying an additional 7,482 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in Western New England Bancorp in the 2nd quarter valued at $170,000. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.