Western New England Bancorp (NASDAQ:WNEB) Stock Has Average Price Target of $15.50 According to Analysts

Key Points

• Analyst consensus is “Hold” for Western New England Bancorp, with three hold ratings and one buy rating. The average 12-month price target is $15.50, compared with the stock’s reported price of $13.93.
• The company reported quarterly EPS of $0.18, missing the $0.24 consensus estimate, though revenue of $27.11 million exceeded expectations of $22.74 million.
• Western New England Bancorp pays a quarterly dividend of $0.07 per share, equivalent to an annualized $0.28 dividend and a 2.0% yield; institutional investors and hedge funds own 67.95% of the stock.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) has been assigned a consensus rating of "Hold" from the four brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $15.50.

WNEB has been the topic of a number of recent research reports. Seaport Research Partners downgraded Western New England Bancorp from a "buy" rating to a "neutral" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Western New England Bancorp in a report on Friday, August 7th. Wall Street Zen raised shares of Western New England Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. Finally, Piper Sandler raised their price target on shares of Western New England Bancorp from $15.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, July 29th.

Insiders Place Their Bets

In other Western New England Bancorp news, Director Philip 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 value of $45,804.00. Following the completion of the sale, the director directly owned 5,800 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 6.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Western New England Bancorp

Large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Western New England Bancorp by 3.2% in the first quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider's stock valued at $792,000 after purchasing an additional 1,884 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Western New England Bancorp during the first quarter worth about $40,000. Empowered Funds LLC lifted its holdings in shares of Western New England Bancorp by 10.0% during the first quarter. Empowered Funds LLC now owns 123,791 shares of the financial services provider's stock worth $1,601,000 after purchasing an additional 11,291 shares during the period. Odyssean LLC acquired a new stake in shares of Western New England Bancorp during the second quarter worth about $177,000. Finally, Elizabeth Park Capital Advisors Ltd. boosted its position in Western New England Bancorp by 10.1% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 145,962 shares of the financial services provider's stock valued at $1,842,000 after buying an additional 13,396 shares during the last quarter. 67.95% of the stock is owned by institutional investors and hedge funds.

Western New England Bancorp Stock Up 1.3%

Western New England Bancorp stock opened at $13.93 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market cap of $279.30 million, a P/E ratio of 16.58 and a beta of 0.78. The business has a fifty day moving average of $13.78 and a two-hundred day moving average of $13.70. Western New England Bancorp has a twelve month low of $10.78 and a twelve month high of $15.01.

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 company had revenue of $27.11 million during the quarter, compared to analysts' expectations of $22.74 million. Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. On average, analysts forecast that Western New England Bancorp will post 0.94 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Western New England Bancorp's dividend payout ratio is presently 33.33%.

About Western New England Bancorp

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community-focused financial institution headquartered in Westfield, Massachusetts. Westfield Bank provides banking and financial services to individuals, families, businesses and municipalities.

The bank offers deposit products, residential and commercial real estate lending, commercial business loans, consumer loans, home equity financing and other traditional banking services. It also provides digital banking tools and related financial services through its branch network and online channels.

Founded in 1853, Westfield Bank primarily serves communities in western Massachusetts and northern Connecticut.

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