Western New England Bancorp (NASDAQ:WNEB) Given Average Rating of “Moderate Buy” by Analysts
by Sarita Garza · The Markets DailyWestern New England Bancorp (NASDAQ:WNEB – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the three research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.00.
Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, October 8th.
Read Our Latest Analysis on Western New England Bancorp
Western New England Bancorp Stock Performance
Shares of WNEB opened at $12.85 on Wednesday. Western New England Bancorp has a 52 week low of $7.63 and a 52 week high of $13.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a market cap of $263.30 million, a P/E ratio of 19.47 and a beta of 0.83. The business’s 50 day moving average price is $12.05 and its 200-day moving average price is $11.36.
Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Western New England Bancorp had a net margin of 10.33% and a return on equity of 5.58%. The firm had revenue of $18.06 million for the quarter, compared to analysts’ expectations of $17.99 million. Equities research analysts anticipate that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.
Western New England Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, November 12th. This represents a $0.28 annualized dividend and a yield of 2.2%. Western New England Bancorp’s payout ratio is 42.42%.
Hedge Funds Weigh In On Western New England Bancorp
Several large investors have recently made changes to their positions in WNEB. Geode Capital Management LLC lifted its holdings in shares of Western New England Bancorp by 103.6% in the second quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after buying an additional 220,852 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. purchased a new stake in Western New England Bancorp in the 3rd quarter worth $1,592,000. Ritholtz Wealth Management boosted its holdings in shares of Western New England Bancorp by 230.5% during the 3rd quarter. Ritholtz Wealth Management now owns 147,356 shares of the financial services provider’s stock valued at $1,770,000 after purchasing an additional 102,770 shares during the last quarter. Teton Advisors LLC purchased a new position in shares of Western New England Bancorp during the third quarter valued at about $805,000. Finally, Jane Street Group LLC increased its holdings in shares of Western New England Bancorp by 190.1% in the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 52,858 shares during the last quarter. 67.95% of the stock is currently owned by hedge funds and other institutional investors.
About Western New England Bancorp
Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.
The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.