Western New England Bancorp (NASDAQ:WNEB) Stock Has Consensus Target Price of $15.50 According to Analysts

by · The Markets Daily

Western New England Bancorp (NASDAQ:WNEB – Get Free Report) has been given an average recommendation of “Hold” by the four brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.50.

WNEB has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Western New England Bancorp in a research report on Friday, August 7th. Wall Street Zen raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, Seaport Research Partners lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 29th.

Get Our Latest Research Report on Western New England Bancorp

Insiders Place Their Bets

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total value of $45,804.00. Following the completion of the sale, the director directly owned 5,800 shares in the company, valued at approximately $80,504. This represents a 36.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in WNEB. Vise Technologies Inc. lifted its stake in Western New England Bancorp by 15.9% in the third quarter. Vise Technologies Inc. now owns 17,400 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 2,391 shares during the period. Odyssean LLC bought a new position in Western New England Bancorp during the 2nd quarter worth about $177,000. Empowered Funds LLC purchased a new position in Western New England Bancorp during the 2nd quarter valued at about $1,636,000. Bank of America Corp DE purchased a new position in Western New England Bancorp during the 2nd quarter valued at about $829,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at about $1,516,000. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Stock Down 0.8%

Shares of WNEB opened at $13.97 on Thursday. The firm has a market capitalization of $280.10 million, a P/E ratio of 13.97 and a beta of 0.78. Western New England Bancorp has a 12-month low of $11.08 and a 12-month high of $15.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $13.75 and a 200-day moving average price of $13.61.

Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Western New England Bancorp had a net margin of 14.53% and a return on equity of 8.02%. The firm had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $23.40 million. Equities research analysts expect that Western New England Bancorp will post 0.97 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, November 10th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 28.00%.

Western New England Bancorp Company Profile

(Get Free Report)

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. The company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Westfield Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, home equity financing and other credit services. Its services also include online and mobile banking, cash management, electronic payments and wealth management solutions.

Founded in 1853, Westfield Bank has a long history of serving communities in western Massachusetts and northern Connecticut.

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