Brokerages Set Western New England Bancorp, Inc. (NASDAQ:WNEB) Target Price at $7.50

Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) have been assigned an average rating of “Hold” from the three ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.50.

Separately, Piper Sandler reiterated a “neutral” rating and issued a $7.50 price target (down from $9.00) on shares of Western New England Bancorp in a research note on Wednesday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hennessy Advisors Inc. lifted its stake in shares of Western New England Bancorp by 5.9% in the 1st 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. lifted its stake in shares of Western New England Bancorp by 19.3% in 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 acquiring an additional 3,585 shares during the last quarter. White Pine Capital LLC lifted its stake in shares of Western New England Bancorp by 28.6% in the 4th 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. lifted 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 valued at $1,514,000 after acquiring an additional 2,656 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Western New England Bancorp by 808.9% in 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 acquiring an additional 4,465 shares during the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Price Performance

NASDAQ:WNEB opened at $6.45 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $7.50 and its 200 day simple moving average is $7.87. The company 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 52-week low of $5.58 and a 52-week high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. The firm had revenue of $18.89 million during the quarter, compared to analyst estimates of $18.67 million. As a group, sell-side analysts forecast that Western New England Bancorp will post 0.54 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

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 paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Tuesday, May 7th. Western New England Bancorp’s payout ratio is 46.67%.

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.