Western New England Bancorp (NASDAQ:WNEB) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Western New England Bancorp has a consensus analyst rating of “Moderate Buy” from four covering firms, with two buy ratings and two hold ratings. The average 1-year price target is $15.00.
• The company recently reported better-than-expected quarterly earnings of $0.24 per share, topping estimates by $0.03, though revenue came in slightly below expectations at $21.82 million.
• Western New England Bancorp also paid a quarterly dividend of $0.07 per share, equal to an annualized yield of about 2.0%. Meanwhile, institutional investors hold a large share of the stock, with hedge funds and other institutions owning 67.95%.

Shares of Western New England Bancorp (NASDAQ:WNEB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the four ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.00.

WNEB has been the subject of a number of recent analyst reports. Hovde Group raised Western New England Bancorp to a "hold" rating in a research report on Thursday, April 2nd. Zacks Research downgraded Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Piper Sandler restated an "overweight" rating and issued a $15.00 price target on shares of Western New England Bancorp in a report on Wednesday, April 29th. Weiss Ratings raised shares of Western New England Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Finally, Seaport Research Partners raised their target price on shares of Western New England Bancorp from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th.

Insider Activity at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares of the company's stock, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of large investors have recently modified their holdings of WNEB. Geode Capital Management LLC lifted its stake in shares of Western New England Bancorp by 103.6% in the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider's stock valued at $4,007,000 after purchasing an additional 220,852 shares in the last quarter. Jane Street Group LLC grew its stake in Western New England Bancorp by 190.1% during the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider's stock worth $750,000 after buying an additional 52,858 shares during the period. First Trust Advisors LP acquired a new stake in shares of Western New England Bancorp in the third quarter worth $600,000. Federated Hermes Inc. raised its stake in shares of Western New England Bancorp by 30.9% in the 4th quarter. Federated Hermes Inc. now owns 204,989 shares of the financial services provider's stock valued at $2,587,000 after acquiring an additional 48,395 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of Western New England Bancorp during the 3rd quarter valued at $480,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Price Performance

WNEB stock opened at $13.94 on Monday. The company's 50 day simple moving average is $13.70 and its 200-day simple moving average is $13.39. The firm has a market capitalization of $280.47 million, a PE ratio of 15.66 and a beta of 0.75. Western New England Bancorp has a 12 month low of $9.56 and a 12 month high of $14.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.03. The business had revenue of $21.82 million during the quarter, compared to analyst estimates of $21.96 million. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. Equities analysts expect that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. Western New England Bancorp's payout ratio is currently 31.46%.

About Western New England Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.