Analysts Set Western New England Bancorp (NASDAQ:WNEB) Price Target at $15.00

Western New England Bancorp (NASDAQ:WNEB) has earned an average recommendation of “Moderate Buy” from the four analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.00.

A number of research firms have issued reports on WNEB. Hovde Group upgraded shares of Western New England Bancorp to a “hold” rating in a research note on Thursday, April 2nd. Seaport Research Partners lifted 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 research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Finally, 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.

Western New England Bancorp Price Performance

NASDAQ WNEB opened at $14.21 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $285.91 million, a PE ratio of 15.97 and a beta of 0.76. The company has a 50 day moving average price of $13.61 and a two-hundred day moving average price of $13.29. Western New England Bancorp has a 12-month low of $8.89 and a 12-month high of $14.52.

Western New England Bancorp (NASDAQ:WNEB) last posted 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. The firm had revenue of $21.82 million during the quarter, compared to analysts’ expectations of $21.96 million. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. As a group, equities analysts predict that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 13th. Western New England Bancorp’s payout ratio is presently 31.46%.

Insider Buying and Selling at Western New England Bancorp

In other 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 completion of the sale, the senior vice president directly owned 14,048 shares in the company, valued at approximately $188,524.16. The trade was a 20.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.56% of the company’s stock.

Hedge Funds Weigh In On Western New England Bancorp

Several large investors have recently bought and sold shares of WNEB. Cubist Systematic Strategies LLC raised its stake in Western New England Bancorp by 141.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 10,358 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Western New England Bancorp by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 24,597 shares during the last quarter. Empowered Funds LLC raised its stake in Western New England Bancorp by 7.0% during the 1st quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 5,883 shares during the last quarter. Jane Street Group LLC raised its stake in Western New England Bancorp by 190.1% during the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 52,858 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock valued at $4,007,000 after purchasing an additional 220,852 shares during the last quarter. 67.95% of the stock is currently 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.