Western New England Bancorp (NASDAQ:WNEB) Cut to “Neutral” at Seaport Research Partners

Seaport Research Partners cut shares of Western New England Bancorp (NASDAQ:WNEB) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports.

Several other analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $15.00 price objective on shares of Western New England Bancorp in a report on Wednesday, April 29th. Weiss Ratings raised Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Zacks Research downgraded Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Hovde Group upgraded Western New England Bancorp to a “hold” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.50.

Western New England Bancorp Trading Down 1.2%

Shares of NASDAQ WNEB opened at $12.93 on Wednesday. Western New England Bancorp has a twelve month low of $10.25 and a twelve month high of $15.01. The firm has a market cap of $260.15 million, a PE ratio of 15.39 and a beta of 0.75. The business has a fifty day simple moving average of $13.87 and a two-hundred day simple moving average of $13.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 6.80% and a net margin of 12.43%.The firm had revenue of $22.13 million for the quarter, compared to the consensus estimate of $22.74 million. Analysts expect that Western New England Bancorp will post 0.94 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.28 annualized dividend and a dividend yield of 2.2%. Western New England Bancorp’s dividend payout ratio is 33.33%.

Insider Activity at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 14,048 shares of the company’s stock, valued at $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WNEB. MetLife Investment Management LLC lifted its stake in shares of Western New England Bancorp by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock worth $103,000 after buying an additional 726 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Western New England Bancorp by 95.7% during the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,446 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Western New England Bancorp in the 2nd quarter valued at $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Western New England Bancorp in the 2nd quarter valued at $93,000. Finally, New York State Common Retirement Fund purchased a new position in Western New England Bancorp in the 2nd quarter worth $102,000. Institutional investors and hedge funds own 67.95% of the company’s stock.

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.