Western New England Bancorp (NASDAQ:WNEB) Given Neutral Rating at Seaport Research Partners

Key Points

• Seaport Research Partners reaffirmed a “Neutral” rating on Western New England Bancorp, while analysts’ overall consensus remains “Moderate Buy” with a $15.00 target price.
• WNEB shares opened at $14.66, up 1.8%, near their 12-month high of $15.01. The company’s latest quarterly results missed expectations, reporting $0.18 EPS versus a $0.24 consensus and revenue of $22.13 million versus $22.74 million expected.
• Institutional investors own 67.95% of the company, with several funds increasing or initiating positions; meanwhile, an executive sold 3,680 shares, reducing her holdings by 20.76%.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at Seaport Research Partners in a note issued to investors on Wednesday,Benzinga reports.

Several other equities analysts have also recently weighed in on WNEB. Piper Sandler reissued an "overweight" rating and issued a $15.00 target price on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Zacks Research lowered Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Hovde Group raised shares of Western New England Bancorp to a "hold" rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of Western New England Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Western New England Bancorp has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Western New England Bancorp Stock Up 1.8%

NASDAQ:WNEB opened at $14.66 on Wednesday. Western New England Bancorp has a 12-month low of $10.25 and a 12-month high of $15.01. The stock's fifty day simple moving average is $13.90 and its 200-day simple moving average is $13.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $294.96 million, a P/E ratio of 16.47 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its 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 $22.13 million during the quarter, compared to analyst estimates of $22.74 million. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. Equities research analysts expect that Western New England Bancorp will post 1 earnings per share for the current year.

Insider Buying and Selling at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of Western New England Bancorp stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total transaction of $49,385.60. Following the sale, the senior vice president directly owned 14,048 shares in the company, valued at $188,524.16. This trade represents a 20.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.56% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Western New England Bancorp by 3.2% in the 1st 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. Empowered Funds LLC increased its holdings in Western New England Bancorp by 10.0% in 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 in the last quarter. Sei Investments Co. acquired a new position in Western New England Bancorp in the first quarter valued at approximately $265,000. Sound Income Strategies LLC bought a new position in shares of Western New England Bancorp during the 1st quarter worth approximately $40,000. Finally, Invesco Ltd. grew its position in shares of Western New England Bancorp by 15.9% during the 4th quarter. Invesco Ltd. now owns 24,223 shares of the financial services provider's stock worth $306,000 after buying an additional 3,328 shares during the period. Institutional investors and hedge funds own 67.95% of the company's stock.

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.

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