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

Western New England Bancorp, Inc. (NASDAQ:WNEB) has been assigned a consensus recommendation of “Hold” from the four research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating. The average 12 month target price among analysts that have covered the stock in the last year is $8.00.

A number of research firms recently commented on WNEB. Seaport Res Ptn downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Sandler boosted their target price on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Janney Montgomery Scott downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. purchased a new position in shares of Western New England Bancorp in the second quarter worth approximately $170,000. Hennessy Advisors Inc. increased its position in shares of Western New England Bancorp by 5.9% in the first quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider’s stock worth $3,045,000 after acquiring an additional 22,000 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Western New England Bancorp by 50.9% in the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 7,482 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Western New England Bancorp during the first quarter valued at approximately $85,000. Finally, Renaissance Technologies LLC grew its position in 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 valued at $8,258,000 after purchasing an additional 32,700 shares in the last quarter. 67.95% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Stock Up 0.9 %

WNEB stock opened at $8.87 on Wednesday. Western New England Bancorp has a 52 week low of $6.00 and a 52 week high of $9.25. The company has a market capitalization of $191.84 million, a price-to-earnings ratio of 14.78 and a beta of 0.69. The firm’s 50-day moving average is $8.59 and its two-hundred day moving average is $7.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.63.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 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 company had revenue of $30.64 million for the quarter, compared to the consensus estimate of $18.22 million. On average, analysts forecast that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is currently 46.67%.

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.