Western New England Bancorp (NASDAQ:WNEB) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Three of four covering firms rate Western New England Bancorp neutral, while one rates it a buy. The average 12-month price target is $15.50, above the reported $13.61 opening price.
• Quarterly earnings missed expectations: The company reported earnings of $0.18 per share versus the $0.24 consensus estimate, though revenue of $27.11 million exceeded forecasts of $22.74 million.
• Shareholders received a quarterly dividend: Western New England Bancorp paid $0.07 per share, equivalent to $0.28 annually and a 2.1% yield. Institutional investors own approximately 67.95% of the stock.

Shares of Western New England Bancorp (NASDAQ:WNEB - Get Free Report) have been given an average recommendation of "Hold" by the four research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.50.

WNEB has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Seaport Research Partners downgraded shares of Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Western New England Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Western New England Bancorp in a research report on Friday, August 7th.

Western New England Bancorp Price Performance

Shares of NASDAQ WNEB opened at $13.61 on Wednesday. The stock's 50-day simple moving average is $13.97 and its 200-day simple moving average is $13.60. The firm has a market capitalization of $272.88 million, a PE ratio of 16.20 and a beta of 0.77. Western New England Bancorp has a fifty-two week low of $10.78 and a fifty-two week high of $15.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.06). The business had revenue of $27.11 million during the quarter, compared to analyst estimates 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, equities research analysts forecast that Western New England Bancorp will post 0.94 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.28 dividend on an annualized basis and a yield of 2.1%. Western New England Bancorp's payout ratio is currently 33.33%.

Insider Buying and Selling at Western New England Bancorp

In other news, Director Philip R. Smith sold 3,300 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.88, for a total transaction of $45,804.00. Following the transaction, the director directly owned 5,800 shares in the company, valued at approximately $80,504. This trade represents a 36.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.56% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WNEB. Russell Investments Group Ltd. purchased a new position in shares of Western New England Bancorp during the second quarter worth about $39,000. Sound Income Strategies LLC purchased a new stake in Western New England Bancorp during the 1st quarter valued at approximately $40,000. California State Teachers Retirement System raised its stake in 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 valued at $51,000 after acquiring an additional 2,607 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Western New England Bancorp by 95.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider's stock worth $60,000 after acquiring an additional 2,446 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Western New England Bancorp by 51,300.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider's stock worth $81,000 after acquiring an additional 8,721 shares during the period. 67.95% of the stock is 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.

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