Western New England Bancorp, Inc. (NASDAQ:WNEB) Receives $7.50 Consensus Target Price from Brokerages

Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB - Get Free Report) have been assigned a consensus rating of "Hold" from the three brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.50.

Separately, Piper Sandler restated a "neutral" rating and set a $7.50 price objective (down previously from $9.00) on shares of Western New England Bancorp in a research report on Wednesday.

Hedge Funds Weigh In On Western New England Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of WNEB. Assenagon Asset Management S.A. bought a new position in shares of Western New England Bancorp in the third quarter worth $402,000. Hennessy Advisors Inc. raised its position in shares of Western New England Bancorp by 9.2% in the third quarter. Hennessy Advisors Inc. now owns 387,538 shares of the financial services provider's stock worth $2,515,000 after buying an additional 32,538 shares in the last quarter. White Pine Capital LLC raised its position in shares of Western New England Bancorp by 28.6% in the fourth quarter. White Pine Capital LLC now owns 101,352 shares of the financial services provider's stock worth $912,000 after buying an additional 22,541 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Western New England Bancorp by 14.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider's stock worth $346,000 after buying an additional 6,671 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Western New England Bancorp by 13.8% in the third quarter. Barclays PLC now owns 40,838 shares of the financial services provider's stock worth $265,000 after buying an additional 4,948 shares in the last quarter. 67.95% of the stock is owned by institutional investors.

Western New England Bancorp Price Performance

Western New England Bancorp stock traded up $0.07 during mid-day trading on Wednesday, reaching $6.52. 45,011 shares of the company were exchanged, compared to its average volume of 41,106. The company has a fifty day simple moving average of $7.60 and a 200-day simple moving average of $7.89. Western New England Bancorp has a 12 month low of $5.58 and a 12 month high of $9.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $141.55 million, a PE ratio of 9.30 and a beta of 0.61.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). Western New England Bancorp had a return on equity of 6.44% and a net margin of 13.45%. The business had revenue of $18.89 million for the quarter, compared to analyst estimates of $18.67 million. As a group, equities research analysts expect that Western New England Bancorp will post 0.56 earnings per share for the current fiscal year.

Western New England Bancorp Company Profile

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.