Western New England Bancorp (NASDAQ:WNEB) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Western New England Bancorp (NASDAQ:WNEB – Free Report) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on WNEB. Piper Sandler increased their price target on Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Finally, Seaport Research Partners downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.50.

Check Out Our Latest Report on Western New England Bancorp

Western New England Bancorp Stock Up 0.3%

WNEB opened at $13.81 on Friday. The business has a 50 day moving average price of $13.91 and a two-hundred day moving average price of $13.60. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $276.89 million, a PE ratio of 16.44 and a beta of 0.77. Western New England Bancorp has a 52 week low of $10.78 and a 52 week high of $15.01.

Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). The company had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $22.74 million. Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. As a group, research analysts anticipate that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 12th. Western New England Bancorp’s dividend payout ratio is 33.33%.

Insider Activity at Western New England Bancorp

In related news, Director Philip Smith sold 3,300 shares of Western New England Bancorp stock in a transaction that occurred 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 sale, the director directly owned 5,800 shares in the company, valued at $80,504. The trade was a 36.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in Western New England Bancorp in the first quarter valued at $40,000. California State Teachers Retirement System grew its stake in shares of Western New England Bancorp by 265.5% during the 2nd quarter. California State Teachers Retirement System now owns 3,589 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,607 shares during the period. Odyssean LLC acquired a new position in shares of Western New England Bancorp during the 2nd quarter worth $177,000. Vise Technologies Inc. purchased a new position in shares of Western New England Bancorp in the 2nd quarter valued at about $215,000. Finally, Deutsche Bank AG purchased a new position in shares of Western New England Bancorp in the 2nd quarter valued at about $239,000. Hedge funds and other institutional investors own 67.95% of the company’s stock.

About Western New England Bancorp

(Get Free Report)

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

The bank offers deposit products, residential and commercial real estate lending, commercial business loans, consumer loans, home equity financing and other traditional banking services. It also provides digital banking tools and related financial services through its branch network and online channels.

Founded in 1853, Westfield Bank primarily serves communities in western Massachusetts and northern Connecticut.

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