Western New England Bancorp (NASDAQ:WNEB) Receives $15.50 Average PT from Analysts

Western New England Bancorp (NASDAQ:WNEB) has earned a consensus recommendation of “Hold” from the four ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.50.

Several brokerages recently issued reports on WNEB. Seaport Research Partners downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Western New England Bancorp in a report on Friday, August 7th. Wall Street Zen downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Piper Sandler increased their price objective on Western New England Bancorp from $15.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th.

Institutional Investors Weigh In On Western New England Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of WNEB. Bank of New York Mellon Corp purchased a new position in shares of Western New England Bancorp during the second quarter valued at approximately $968,000. Bank of America Corp DE grew its stake in Western New England Bancorp by 3.2% in the 1st quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock worth $792,000 after acquiring an additional 1,884 shares during the period. Deutsche Bank AG purchased a new stake in Western New England Bancorp in the 2nd quarter worth approximately $239,000. Empowered Funds LLC acquired a new position in Western New England Bancorp in the 2nd quarter valued at $1,636,000. Finally, BlackRock Inc. acquired a new position in Western New England Bancorp in the 2nd quarter valued at $26,266,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Stock Performance

Shares of WNEB opened at $13.76 on Friday. Western New England Bancorp has a 12-month low of $10.78 and a 12-month high of $15.01. The stock has a market cap of $275.89 million, a P/E ratio of 16.38 and a beta of 0.76. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $14.01 and a two-hundred day moving average of $13.63.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. The business had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. As a group, research analysts predict that Western New England Bancorp will post 0.94 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, August 12th. Western New England Bancorp’s dividend payout ratio is 33.33%.

Western New England Bancorp Company Profile

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.