Brokerages Set Western New England Bancorp (NASDAQ:WNEB) Price Target at $15.50

Shares of Western New England Bancorp (NASDAQ:WNEB) have earned a consensus rating of “Hold” from the four analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $15.50.

WNEB has been the subject of several research analyst reports. Zacks Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Piper Sandler lifted their target price 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. Wall Street Zen downgraded shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WNEB. Russell Investments Group Ltd. acquired a new stake in shares of Western New England Bancorp during the 2nd quarter valued at $39,000. Sound Income Strategies LLC acquired a new position in shares of Western New England Bancorp in the 1st quarter worth $40,000. BNP Paribas Financial Markets raised its position in shares of Western New England Bancorp by 95.7% during the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 2,446 shares during the period. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 8,721 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Western New England Bancorp during the second quarter valued at $93,000. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Price Performance

Shares of NASDAQ:WNEB opened at $13.74 on Friday. Western New England Bancorp has a 12 month low of $10.78 and a 12 month high of $15.01. The stock has a market cap of $275.49 million, a price-to-earnings ratio of 16.36 and a beta of 0.76. The stock’s 50 day moving average price is $14.01 and its 200 day moving average price is $13.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%.The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. Equities research analysts anticipate that Western New England Bancorp will post 0.94 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, August 12th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

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.