Western New England Bancorp (NASDAQ:WNEB) Receives $11.00 Average Target Price from Analysts

Western New England Bancorp (NASDAQ:WNEB) has received an average rating of “Moderate Buy” from the three ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.

WNEB has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Western New England Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western New England Bancorp in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th.

Western New England Bancorp Price Performance

WNEB stock opened at $11.43 on Tuesday. The firm has a market cap of $234.20 million, a P/E ratio of 17.32 and a beta of 0.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.93. Western New England Bancorp has a 1 year low of $7.63 and a 1 year high of $12.80. The stock has a 50-day simple moving average of $11.89 and a 200-day simple moving average of $10.52.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $21.27 million for the quarter, compared to analysts’ expectations of $17.99 million. Western New England Bancorp had a net margin of 10.33% and a return on equity of 5.62%. On average, equities analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. Western New England Bancorp’s dividend payout ratio is currently 47.46%.

Insiders Place Their Bets

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $12.39, for a total transaction of $44,604.00. Following the completion of the sale, the senior vice president owned 16,044 shares in the company, valued at $198,785.16. This trade represents a 18.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Western New England Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. White Pine Capital LLC grew its position in shares of Western New England Bancorp by 1.5% during the second quarter. White Pine Capital LLC now owns 168,254 shares of the financial services provider’s stock worth $1,553,000 after buying an additional 2,553 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Western New England Bancorp by 28.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,180 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 3,100 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Western New England Bancorp during the 2nd quarter valued at $39,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Western New England Bancorp during the 2nd quarter worth $45,000. Finally, Empowered Funds LLC increased its position in shares of Western New England Bancorp by 7.0% in the 1st quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 5,883 shares during the last quarter. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

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.