Western New England Bancorp, Inc. (NASDAQ:WNEB) Receives Average Rating of “Hold” from Analysts

Western New England Bancorp, Inc. (NASDAQ:WNEB) has been given an average recommendation of “Hold” by the four ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $8.00.

Several research analysts have recently issued reports on the company. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Seaport Res Ptn cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Piper Sandler lifted their price target on 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 Stock Down 0.3 %

Shares of WNEB opened at $8.61 on Friday. The company’s 50-day simple moving average is $8.41 and its 200-day simple moving average is $7.41. The stock has a market capitalization of $183.57 million, a PE ratio of 14.35 and a beta of 0.69. Western New England Bancorp has a 1 year low of $6.00 and a 1 year high of $9.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%. The business had revenue of $30.64 million for the quarter, compared to analyst estimates of $18.22 million. Analysts forecast that Western New England Bancorp will post 0.53 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 paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 3.25%. Western New England Bancorp’s payout ratio is 46.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in Western New England Bancorp during the 1st quarter worth about $85,000. Legato Capital Management LLC lifted its holdings in shares of Western New England Bancorp by 39.0% during the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after buying an additional 6,021 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Western New England Bancorp by 50.9% during the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock valued at $170,000 after buying an additional 7,482 shares during the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of Western New England Bancorp by 19.3% during 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 buying an additional 3,585 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Western New England Bancorp during the 2nd quarter valued at about $170,000. Institutional investors own 67.95% of the company’s stock.

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.