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

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

Western New England Bancorp Trading 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 P/E ratio of 10.75 and a beta of 0.61. Western New England Bancorp has a fifty-two week low of $5.58 and a fifty-two week high of $9.25. The firm’s fifty day moving average price is $7.50 and its 200-day moving average price is $7.88. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.28 annualized dividend and a dividend yield of 4.34%. Western New England Bancorp’s payout ratio is currently 46.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. increased its stake in Western New England Bancorp by 5.9% in the first quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider’s stock valued at $3,045,000 after acquiring an additional 22,000 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in Western New England Bancorp by 19.3% in 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 acquiring an additional 3,585 shares during the last quarter. White Pine Capital LLC increased its stake in Western New England Bancorp by 28.6% in the fourth quarter. White Pine Capital LLC now owns 101,352 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 22,541 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Western New England Bancorp by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 2,656 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of 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 buying an additional 4,465 shares during the last quarter. 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.