Western New England Bancorp, Inc. (NASDAQ:WNEB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) have been assigned a consensus rating of “Hold” from the four research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.00.

A number of analysts have weighed in on the company. Piper Sandler increased their price objective on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Seaport Res Ptn cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th.

Institutional Trading of Western New England Bancorp

A number of institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in Western New England Bancorp in the first quarter valued at $85,000. Legato Capital Management LLC increased its holdings in shares of Western New England Bancorp by 39.0% in the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 6,021 shares in the last quarter. Quadrature Capital Ltd lifted its stake in shares of Western New England Bancorp by 50.9% in the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 7,482 shares during the period. ST Germain D J Co. Inc. boosted its holdings in Western New England Bancorp by 19.3% during the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock worth $170,000 after buying an additional 3,585 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Western New England Bancorp during the second quarter worth about $170,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Stock Performance

Shares of Western New England Bancorp stock opened at $8.86 on Wednesday. The firm’s fifty day simple moving average is $8.49 and its 200-day simple moving average is $7.48. Western New England Bancorp has a 12 month low of $6.00 and a 12 month high of $9.25. The stock has a market capitalization of $191.62 million, a price-to-earnings ratio of 14.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.17 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 company had revenue of $30.64 million for the quarter, compared to analyst estimates of $18.22 million. As a group, equities analysts forecast that Western New England Bancorp will post 0.53 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is 46.67%.

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.