Western New England Bancorp (NASDAQ:WNEB) Earns Neutral Rating from Analysts at Piper Sandler

Analysts at Piper Sandler began coverage on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report issued on Monday. The firm set a “neutral” rating and a $14.00 price target on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 8.61% from the stock’s current price.

Several other research firms have also recently commented on WNEB. Weiss Ratings upgraded shares of Western New England Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Zacks Research upgraded Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.00.

Western New England Bancorp Stock Up 1.1%

Shares of NASDAQ WNEB traded up $0.14 during mid-day trading on Monday, reaching $12.89. The company had a trading volume of 7,728 shares, compared to its average volume of 64,472. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $261.15 million, a price-to-earnings ratio of 16.96 and a beta of 0.79. The stock has a fifty day moving average of $13.22 and a two-hundred day moving average of $12.50. Western New England Bancorp has a 12-month low of $7.63 and a 12-month high of $14.52.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $22.01 million for the quarter, compared to the consensus estimate of $18.62 million. Western New England Bancorp had a net margin of 11.64% and a return on equity of 6.31%. As a group, equities research analysts expect that Western New England Bancorp will post 0.6 EPS for the current year.

Insider Buying and Selling at Western New England Bancorp

In other Western New England Bancorp news, Director Philip R. Smith sold 3,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.17, for a total value of $39,510.00. Following the completion of the sale, the director owned 7,497 shares of the company’s stock, valued at $98,735.49. The trade was a 28.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western New England Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its position in Western New England Bancorp by 141.6% during the first quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 10,358 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Western New England Bancorp by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 24,597 shares during the period. Empowered Funds LLC lifted its stake in shares of Western New England Bancorp by 7.0% in the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock worth $832,000 after buying an additional 5,883 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Western New England Bancorp by 190.1% in 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 last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after buying an additional 220,852 shares during the period. 67.95% of the stock is currently owned by institutional investors and hedge funds.

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.