Western New England Bancorp (NASDAQ:WNEB) Price Target Raised to $11.00

Western New England Bancorp (NASDAQ:WNEB) had its price target boosted by Piper Sandler from $10.00 to $11.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Western New England Bancorp Trading Down 0.4%

Western New England Bancorp stock opened at $11.32 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $9.54 and its two-hundred day simple moving average is $9.26. Western New England Bancorp has a 12 month low of $7.38 and a 12 month high of $11.68. The company has a market capitalization of $234.44 million, a price-to-earnings ratio of 19.19 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.14 by $0.09. The business had revenue of $21.05 million for the quarter, compared to the consensus estimate of $16.35 million. Western New England Bancorp had a return on equity of 5.08% and a net margin of 9.51%. As a group, equities analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.47%. Western New England Bancorp’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Trading of Western New England Bancorp

Hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP grew its stake in Western New England Bancorp by 186.2% in the 4th quarter. Susquehanna International Group LLP now owns 284,223 shares of the financial services provider’s stock worth $2,615,000 after acquiring an additional 184,907 shares in the last quarter. Fourthstone LLC grew its position in Western New England Bancorp by 18.3% during the fourth quarter. Fourthstone LLC now owns 910,788 shares of the financial services provider’s stock valued at $8,379,000 after buying an additional 140,981 shares during the period. Jane Street Group LLC increased its holdings in Western New England Bancorp by 190.1% in the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after acquiring an additional 52,858 shares in the last quarter. 683 Capital Management LLC purchased a new position in Western New England Bancorp in the 4th quarter valued at $366,000. Finally, Alliancebernstein L.P. acquired a new position in Western New England Bancorp during the fourth quarter worth $327,000. 67.95% of the stock is owned by hedge funds and other institutional investors.

About Western New England Bancorp

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.