Western New England Bancorp (NASDAQ:WNEB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Western New England Bancorp (NASDAQ:WNEB) have been assigned a consensus recommendation of “Hold” from the four brokerages that are covering the company, MarketBeat.com 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 target price among analysts that have covered the stock in the last year is $15.50.

Several brokerages have issued reports on WNEB. Seaport Research Partners cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Piper Sandler lifted their price target on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a research report on Friday, August 7th.

Insiders Place Their Bets

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.88, for a total transaction of $45,804.00. Following the completion of the sale, the director owned 5,800 shares of the company’s stock, valued at approximately $80,504. This represents a 36.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.56% of the company’s stock.

Institutional Trading of Western New England Bancorp

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new stake in Western New England Bancorp in the first quarter worth approximately $40,000. Odyssean LLC acquired a new stake in shares of Western New England Bancorp in the 2nd quarter worth about $177,000. Vise Technologies Inc. bought a new position in shares of Western New England Bancorp in the second quarter valued at approximately $215,000. Deutsche Bank AG purchased a new position in shares of Western New England Bancorp during the second quarter valued at approximately $239,000. Finally, Sei Investments Co. purchased a new position in shares of Western New England Bancorp during the first quarter valued at approximately $265,000. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $14.03 on Wednesday. The business’s 50-day moving average price is $13.91 and its 200-day moving average price is $13.61. Western New England Bancorp has a 12 month low of $10.78 and a 12 month high of $15.01. The firm has a market capitalization of $281.30 million, a price-to-earnings ratio of 16.70 and a beta of 0.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share (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 firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. Equities research analysts forecast that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.28 annualized dividend and a yield of 2.0%. Western New England Bancorp’s dividend payout ratio is presently 33.33%.

About Western New England Bancorp

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

The bank offers deposit products, residential and commercial real estate lending, commercial business loans, consumer loans, home equity financing and other traditional banking services. It also provides digital banking tools and related financial services through its branch network and online channels.

Founded in 1853, Westfield Bank primarily serves communities in western Massachusetts and northern Connecticut.