Piper Sandler Reaffirms Neutral Rating for Western New England Bancorp (NASDAQ:WNEB)

Piper Sandler reissued their neutral rating on shares of Western New England Bancorp (NASDAQ:WNEB) in a research note published on Wednesday, Benzinga reports. The firm currently has a $7.50 price target on the financial services provider’s stock, down from their previous price target of $9.00.

Western New England Bancorp Stock Down 3.2 %

Western New England Bancorp stock opened at $6.45 on Wednesday. The stock has a market cap of $140.03 million, a PE ratio of 10.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.95 and a current ratio of 0.95. Western New England Bancorp has a one year low of $5.58 and a one year high of $9.25. The stock has a fifty day moving average of $7.50 and a 200 day moving average of $7.87.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $18.89 million for the quarter, compared to analysts’ expectations of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. As a group, sell-side analysts predict that Western New England Bancorp will post 0.54 EPS for the current year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Tuesday, May 7th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 46.67%.

Institutional Trading of Western New England Bancorp

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Western New England Bancorp by 808.9% during the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 4,465 shares during the period. Essex Financial Services Inc. grew its holdings in Western New England Bancorp by 14.2% during the third quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 1,929 shares during the period. Ritholtz Wealth Management grew its holdings in Western New England Bancorp by 27.4% during the third quarter. Ritholtz Wealth Management now owns 22,122 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 4,757 shares during the period. Raymond James & Associates grew its holdings in Western New England Bancorp by 10.3% during the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 2,081 shares during the period. Finally, ST Germain D J Co. Inc. grew its holdings in Western New England Bancorp by 19.3% during the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 3,585 shares during the period. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.