Western New England Bancorp (NASDAQ:WNEB) Given New $11.00 Price Target at Piper Sandler

Western New England Bancorp (NASDAQ:WNEB - Free Report) had its target price raised by Piper Sandler from $10.00 to $11.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider's stock.

Western New England Bancorp Trading Down 0.4%

Shares of WNEB traded down $0.05 during mid-day trading on Wednesday, reaching $11.32. The stock had a trading volume of 148,946 shares, compared to its average volume of 205,024. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $234.44 million, a price-to-earnings ratio of 19.19 and a beta of 0.75. The business's fifty day moving average is $9.54 and its 200 day moving average is $9.26. Western New England Bancorp has a 52-week low of $7.38 and a 52-week high of $11.68.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.09. Western New England Bancorp had a net margin of 9.51% and a return on equity of 5.08%. The business had revenue of $21.05 million during the quarter, compared to analysts' expectations of $16.35 million. On average, sell-side analysts predict that Western New England Bancorp will post 0.6 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.47%. Western New England Bancorp's dividend payout ratio is presently 47.46%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its holdings in shares of Western New England Bancorp by 483.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider's stock valued at $67,000 after purchasing an additional 6,060 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Western New England Bancorp in the fourth quarter valued at approximately $108,000. Janney Montgomery Scott LLC grew its holdings in shares of Western New England Bancorp by 28.0% in the first quarter. Janney Montgomery Scott LLC now owns 14,180 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 3,100 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Western New England Bancorp in the first quarter valued at approximately $142,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Western New England Bancorp in the second quarter valued at approximately $161,000. Institutional investors and hedge funds own 67.95% of the company's stock.

About Western New England Bancorp

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.