Western New England Bancorp’s (WNEB) “Neutral” Rating Reaffirmed at Piper Sandler

Western New England Bancorp (NASDAQ:WNEB)‘s stock had its “neutral” rating reaffirmed by research analysts at Piper Sandler in a report issued on Wednesday, Benzinga reports. They currently have a $7.50 price target on the financial services provider’s stock, down from their prior price target of $9.00. Piper Sandler’s price target indicates a potential upside of 15.92% from the stock’s current price.

Western New England Bancorp Stock Up 0.3 %

Shares of NASDAQ:WNEB traded up $0.02 during midday trading on Wednesday, reaching $6.47. The company had a trading volume of 12,249 shares, compared to its average volume of 40,667. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $7.60 and its 200 day moving average price is $7.89. The stock has a market cap of $140.46 million, a PE ratio of 9.27 and a beta of 0.61. Western New England Bancorp has a 1-year low of $5.58 and a 1-year high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $18.89 million for the quarter, compared to analyst estimates of $18.67 million. Western New England Bancorp had a return on equity of 6.44% and a net margin of 13.45%. Research analysts forecast that Western New England Bancorp will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors have recently bought and sold shares of WNEB. Ritholtz Wealth Management grew its position in shares of Western New England Bancorp by 27.4% in 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 last quarter. Hennessy Advisors Inc. boosted its stake in shares of Western New England Bancorp by 9.2% in the third quarter. Hennessy Advisors Inc. now owns 387,538 shares of the financial services provider’s stock valued at $2,515,000 after buying an additional 32,538 shares during the period. Raymond James & Associates boosted its stake in shares of Western New England Bancorp by 10.3% in the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,081 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Western New England Bancorp in the third quarter valued at approximately $402,000. Finally, Barclays PLC boosted its stake in shares of Western New England Bancorp by 13.8% in the third quarter. Barclays PLC now owns 40,838 shares of the financial services provider’s stock valued at $265,000 after buying an additional 4,948 shares during the period. Institutional investors and hedge funds 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.