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

Shares of Western New England Bancorp (NASDAQ:WNEB) have been given an average recommendation of “Hold” by the four brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $15.50.

Several equities research analysts recently issued reports on WNEB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a report on Friday, August 7th. Wall Street Zen upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Piper Sandler upped 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 research note on Wednesday, July 29th. Finally, Seaport Research Partners lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th.

Insider Activity

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total value of $45,804.00. Following the sale, the director directly owned 5,800 shares of the company’s stock, valued at approximately $80,504. This trade represents a 36.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.56% of the stock is owned by company insiders.

Institutional Trading of Western New England Bancorp

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Western New England Bancorp in the 2nd quarter worth $26,266,000. Empowered Funds LLC bought a new stake in Western New England Bancorp during the second quarter valued at $1,636,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Western New England Bancorp during the second quarter worth about $1,516,000. Bank of New York Mellon Corp acquired a new position in Western New England Bancorp during the 2nd quarter valued at approximately $968,000. Finally, Bank of America Corp DE bought a new stake in Western New England Bancorp in the 2nd quarter valued at about $829,000. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Stock Up 1.9%

Shares of WNEB stock opened at $14.05 on Thursday. Western New England Bancorp has a fifty-two week low of $11.31 and a fifty-two week high of $15.01. The firm has a market capitalization of $281.65 million, a PE ratio of 14.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50-day simple moving average is $13.76 and its 200-day simple moving average is $13.63.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Western New England Bancorp had a net margin of 14.53% and a return on equity of 8.02%. The firm had revenue of $23.90 million for the quarter, compared to analyst estimates of $23.40 million. Equities analysts expect that Western New England Bancorp will post 0.99 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be 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 is Tuesday, November 10th. Western New England Bancorp’s dividend payout ratio is 28.00%.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. The company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Westfield Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, home equity financing and other credit services. Its services also include online and mobile banking, cash management, electronic payments and wealth management solutions.

Founded in 1853, Westfield Bank has a long history of serving communities in western Massachusetts and northern Connecticut.