Western New England Bancorp (NASDAQ:WNEB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Western New England Bancorp (NASDAQ:WNEB) have been assigned an average recommendation of “Moderate Buy” from the three ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.00.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Western New England Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at approximately $39,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Western New England Bancorp during the 2nd quarter valued at $45,000. BNP Paribas Financial Markets lifted its position in Western New England Bancorp by 95.7% in the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock worth $60,000 after buying an additional 2,446 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Western New England Bancorp by 51,300.0% during the second quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock worth $81,000 after buying an additional 8,721 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Western New England Bancorp during the second quarter worth $93,000. 67.95% of the stock is owned by institutional investors.

Western New England Bancorp Price Performance

Shares of Western New England Bancorp stock opened at $12.73 on Friday. The firm has a market cap of $260.84 million, a PE ratio of 19.29 and a beta of 0.83. The stock has a 50 day moving average of $12.41 and a 200 day moving average of $11.68. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Western New England Bancorp has a 12 month low of $7.63 and a 12 month high of $13.95.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). Western New England Bancorp had a return on equity of 5.58% and a net margin of 10.33%.The firm had revenue of $18.06 million for the quarter, compared to analysts’ expectations of $17.99 million. On average, research analysts expect that Western New England Bancorp will post 0.6 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.2%. Western New England Bancorp’s dividend payout ratio (DPR) is presently 42.42%.

Western New England Bancorp Company Profile

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.