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 price objective boosted by Piper Sandler from $10.00 to $11.00 in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider's stock.

Western New England Bancorp Stock Down 0.4%

NASDAQ WNEB traded down $0.05 during trading on Wednesday, reaching $11.32. 148,946 shares of the company's stock were exchanged, compared to its average volume of 205,024. Western New England Bancorp has a fifty-two week low of $7.38 and a fifty-two week high of $11.68. The firm has a market capitalization of $234.44 million, a PE ratio of 19.19 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company's fifty day simple moving average is $9.54 and its 200-day simple moving average is $9.26.

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

Western New England Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Western New England Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in WNEB. Cubist Systematic Strategies LLC raised its stake in shares of Western New England Bancorp by 483.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider's stock valued at $67,000 after acquiring an additional 6,060 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Western New England Bancorp in the fourth quarter valued at approximately $108,000. Janney Montgomery Scott LLC boosted its position 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 acquiring an additional 3,100 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Western New England Bancorp during the first quarter valued at approximately $142,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Western New England Bancorp during the second quarter valued at approximately $161,000. 67.95% of the stock is owned by hedge funds and other institutional investors.

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.