Western New England Bancorp, Inc. (NASDAQ:WNEB) Receives Average Rating of “Hold” from Analysts

Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) have received an average recommendation of “Hold” from the four analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $8.00.

WNEB has been the topic of a number of research analyst reports. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Seaport Res Ptn cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler raised their price objective on Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, July 24th.

Institutional Trading of Western New England Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. grew its stake in shares of Western New England Bancorp by 1.6% in the 4th quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 2,656 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in Western New England Bancorp by 19.3% during the 1st 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 last quarter. International Assets Investment Management LLC boosted its stake in Western New England Bancorp by 808.9% during the 4th 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 last quarter. Empowered Funds LLC boosted its stake in Western New England Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 70,125 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 5,250 shares during the last quarter. Finally, Legato Capital Management LLC boosted its stake in Western New England Bancorp by 39.0% during the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 6,021 shares during the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $7.54 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $7.17 and a 200 day moving average of $7.35. The firm has a market capitalization of $163.09 million, a price-to-earnings ratio of 12.57 and a beta of 0.69. Western New England Bancorp has a 52 week low of $6.00 and a 52 week high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.74%. The firm had revenue of $30.64 million for the quarter, compared to analyst estimates of $18.22 million. As a group, research analysts expect that Western New England Bancorp will post 0.53 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 3.71%. Western New England Bancorp’s payout ratio is currently 46.67%.

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.