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

Western New England Bancorp, Inc. (NASDAQ:WNEB) has earned an average recommendation of “Hold” from the four analysts that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.00.

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

Western New England Bancorp Price Performance

Shares of NASDAQ:WNEB opened at $8.72 on Friday. The company has a market capitalization of $188.60 million, a PE ratio of 14.53 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average of $8.39 and a 200-day moving average of $7.40. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. The business had revenue of $30.64 million during the quarter, compared to the consensus estimate of $18.22 million. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. As a group, equities analysts anticipate that Western New England Bancorp will post 0.53 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s payout ratio is presently 46.67%.

Institutional Investors Weigh In On Western New England Bancorp

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Western New England Bancorp by 2.8% during the second quarter. Renaissance Technologies LLC now owns 1,200,362 shares of the financial services provider’s stock worth $8,258,000 after acquiring an additional 32,700 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of 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 buying an additional 57,099 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at approximately $170,000. Legato Capital Management LLC increased its holdings in Western New England Bancorp by 39.0% in the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock worth $148,000 after buying an additional 6,021 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in Western New England Bancorp by 7.1% during the second quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider’s stock valued at $2,924,000 after acquiring an additional 28,000 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

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.