Western New England Bancorp (NASDAQ:WNEB) Receives $15.00 Consensus PT from Analysts

Western New England Bancorp (NASDAQ:WNEB) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.00.

A number of equities analysts have recently commented on the stock. Seaport Research Partners lifted their price target on shares of Western New England Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Hovde Group upgraded shares of Western New England Bancorp to a “hold” rating in a research note on Thursday, April 2nd. Zacks Research downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 target price on shares of Western New England Bancorp in a research report on Wednesday, April 29th.

Western New England Bancorp Stock Performance

WNEB opened at $14.63 on Monday. The company has a market cap of $294.36 million, a PE ratio of 16.44 and a beta of 0.75. The stock has a 50-day moving average of $13.75 and a 200-day moving average of $13.44. Western New England Bancorp has a 52-week low of $9.91 and a 52-week high of $15.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%.The firm had revenue of $21.82 million during the quarter, compared to analyst estimates of $21.96 million. As a group, equities research analysts forecast that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio (DPR) is currently 31.46%.

Insider Activity at Western New England Bancorp

In other news, SVP Darlene M. Libiszewski sold 3,680 shares of Western New England Bancorp stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares in the company, valued at approximately $188,524.16. The trade was a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.56% of the company’s stock.

Institutional Trading of Western New England Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC raised its stake in shares of Western New England Bancorp by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 726 shares in the last quarter. Bank of America Corp DE increased its holdings in Western New England Bancorp by 3.2% in the 1st quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock valued at $792,000 after buying an additional 1,884 shares during the period. Empowered Funds LLC increased its holdings in Western New England Bancorp by 2.0% in the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock valued at $1,420,000 after buying an additional 2,171 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Western New England Bancorp by 1.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock valued at $2,822,000 after buying an additional 2,171 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Western New England Bancorp by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock valued at $864,000 after buying an additional 2,405 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.