Brokerages Set Western New England Bancorp, Inc. (NASDAQ:WNEB) Price Target at $8.00

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

Several brokerages have weighed in on WNEB. Seaport Res Ptn lowered shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Janney Montgomery Scott lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Piper Sandler lifted their price target on shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, July 24th.

Western New England Bancorp Price Performance

Shares of WNEB stock opened at $8.87 on Wednesday. The firm has a market cap of $191.84 million, a P/E ratio of 14.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95. Western New England Bancorp has a 1-year low of $6.00 and a 1-year high of $9.25. The firm has a fifty day moving average of $8.59 and a two-hundred day moving average of $7.52.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.06. The company had revenue of $30.64 million during the quarter, compared to analyst estimates of $18.22 million. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%. As a group, research analysts anticipate that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 46.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WNEB. Acadian Asset Management LLC boosted its stake in Western New England Bancorp by 16.6% during the 2nd quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider’s stock valued at $2,762,000 after purchasing an additional 57,099 shares during the period. Renaissance Technologies LLC boosted its stake in Western New England Bancorp by 2.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,200,362 shares of the financial services provider’s stock valued at $8,258,000 after purchasing an additional 32,700 shares during the period. Hennessy Advisors Inc. boosted its stake in Western New England Bancorp by 7.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider’s stock valued at $2,924,000 after purchasing an additional 28,000 shares during the period. Panagora Asset Management Inc. acquired a new position in Western New England Bancorp during the 2nd quarter valued at about $170,000. Finally, Janney Montgomery Scott LLC acquired a new position in Western New England Bancorp during the 1st quarter valued at about $85,000. 67.95% of the stock is owned by institutional investors and hedge funds.

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.