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

Western New England Bancorp (NASDAQ:WNEB)‘s stock had its “neutral” rating reiterated by equities researchers at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They presently 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 objective would indicate a potential upside of 12.61% from the stock’s previous close.

Western New England Bancorp Stock Up 2.1 %

WNEB opened at $6.66 on Wednesday. The stock has a market cap of $144.59 million, a PE ratio of 11.10 and a beta of 0.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. Western New England Bancorp has a 52 week low of $5.58 and a 52 week high of $9.25. The business’s fifty day simple moving average is $7.54 and its 200 day simple moving average is $7.87.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results 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 during the quarter, compared to the consensus estimate 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, research analysts expect that Western New England Bancorp will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of Western New England Bancorp

Several institutional investors have recently added to or reduced their stakes in WNEB. International Assets Investment Management LLC boosted its holdings 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 worth $45,000 after purchasing an additional 4,465 shares during the period. Essex Financial Services Inc. boosted its holdings in shares of 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 worth $101,000 after purchasing an additional 1,929 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of 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 worth $144,000 after purchasing an additional 4,757 shares during the period. ST Germain D J Co. Inc. lifted its holdings 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 worth $170,000 after buying an additional 3,585 shares during the period. Finally, Raymond James & Associates lifted its holdings in 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 worth $145,000 after buying an additional 2,081 shares during the period. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

About Western New England Bancorp

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.