Western New England Bancorp (NASDAQ:WNEB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Western New England Bancorp (NASDAQ:WNEB) have earned a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.00.

WNEB has been the subject of a number of recent analyst reports. Hovde Group raised Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. Zacks Research downgraded Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Piper Sandler restated an “overweight” rating and issued a $15.00 price target on shares of Western New England Bancorp in a report on Wednesday, April 29th. Weiss Ratings raised shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Seaport Research Partners raised their target price on shares of Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th.

Insider Activity at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares of the company’s stock, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of large investors have recently modified their holdings of WNEB. Geode Capital Management LLC lifted its stake in shares of Western New England Bancorp by 103.6% in 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 in the last quarter. Jane Street Group LLC grew its stake in Western New England Bancorp by 190.1% during the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after buying an additional 52,858 shares during the period. First Trust Advisors LP acquired a new stake in shares of Western New England Bancorp in the third quarter worth $600,000. Federated Hermes Inc. raised its stake in shares of Western New England Bancorp by 30.9% in the 4th quarter. Federated Hermes Inc. now owns 204,989 shares of the financial services provider’s stock valued at $2,587,000 after acquiring an additional 48,395 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of Western New England Bancorp during the 3rd quarter valued at $480,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Price Performance

WNEB stock opened at $13.94 on Monday. The company’s 50 day simple moving average is $13.70 and its 200-day simple moving average is $13.39. The firm has a market capitalization of $280.47 million, a PE ratio of 15.66 and a beta of 0.75. Western New England Bancorp has a 12 month low of $9.56 and a 12 month high of $14.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $21.82 million during the quarter, compared to analyst estimates of $21.96 million. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. Equities analysts expect that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

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

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.