Western New England Bancorp, Inc. (NASDAQ:WNEB) Given Consensus Rating of “Hold” by Brokerages

Western New England Bancorp, Inc. (NASDAQ:WNEB) has been given an average rating of “Hold” by the four analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $8.00.

A number of research analysts have weighed in on the stock. Seaport Res Ptn cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Piper Sandler boosted their price objective on shares of 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. Finally, Janney Montgomery Scott cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in shares of Western New England Bancorp by 2.8% in the second quarter. Renaissance Technologies LLC now owns 1,200,362 shares of the financial services provider’s stock worth $8,258,000 after purchasing an additional 32,700 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Western New England Bancorp by 7.1% in the second quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider’s stock worth $2,924,000 after purchasing an additional 28,000 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Western New England Bancorp by 16.6% in the second quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider’s stock worth $2,762,000 after purchasing an additional 57,099 shares during the last quarter. Federated Hermes Inc. grew its holdings in Western New England Bancorp by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 2,656 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings 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 worth $538,000 after acquiring an additional 5,250 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $8.78 on Tuesday. The company has a market cap of $189.89 million, a price-to-earnings ratio of 14.63 and a beta of 0.69. The firm’s fifty day moving average is $7.57 and its 200 day moving average is $7.31. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63. 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 released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The company had revenue of $30.64 million for the quarter, compared to the consensus estimate of $18.22 million. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%. Sell-side analysts forecast that Western New England Bancorp will post 0.53 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s payout ratio is presently 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.