Western New England Bancorp's (WNEB) Neutral Rating Reaffirmed at Piper Sandler

Western New England Bancorp (NASDAQ:WNEB - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $7.50 price objective on the financial services provider's stock, down from their prior price objective of $9.00. Piper Sandler's price target would suggest a potential upside of 15.03% from the company's current price.

Western New England Bancorp Trading Up 1.1 %

Western New England Bancorp stock traded up $0.07 during trading on Wednesday, hitting $6.52. The company's stock had a trading volume of 45,011 shares, compared to its average volume of 41,106. The stock has a market capitalization of $141.55 million, a price-to-earnings ratio of 9.30 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.95 and a current ratio of 0.95. The stock's fifty day moving average is $7.60 and its 200 day moving average is $7.89. Western New England Bancorp has a 1-year low of $5.58 and a 1-year high of $9.25.

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

Institutional Investors Weigh In On Western New England Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. increased its stake in Western New England Bancorp by 5.9% during the first quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider's stock worth $3,045,000 after acquiring an additional 22,000 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Western New England Bancorp by 19.3% in the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider's stock worth $170,000 after buying an additional 3,585 shares during the period. White Pine Capital LLC boosted 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 during the period. Federated Hermes Inc. boosted its position in shares of Western New England Bancorp by 1.6% in the fourth quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider's stock worth $1,514,000 after buying an additional 2,656 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Western New England Bancorp by 808.9% in the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider's stock worth $45,000 after buying an additional 4,465 shares during the period. 67.95% of the stock is currently owned by institutional investors and hedge funds.

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.