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

Key Points

• Western New England Bancorp has a “Moderate Buy” consensus rating from four analysts, with an average 12-month price target of $15.00.
• The company recently reported Q1 earnings of $0.24 per share, topping estimates of $0.21, while revenue came in slightly below expectations at $21.82 million.
• Western New England Bancorp also announced a quarterly dividend of $0.07 per share, equal to an annualized yield of about 2.1%.

Shares of Western New England Bancorp (NASDAQ:WNEB - Get Free Report) have received a consensus rating of "Moderate Buy" from the four analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $15.00.

Several equities analysts have issued reports on the stock. Seaport Research Partners upped their price objective on shares of Western New England Bancorp from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Hovde Group upgraded shares of Western New England Bancorp to a "hold" rating in a research note on Thursday, April 2nd. Zacks Research downgraded shares of Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $15.00 target price on shares of Western New England Bancorp in a research note on Wednesday, April 29th.

Insider Activity

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the sale, the senior vice president owned 14,048 shares in the company, valued at $188,524.16. This trade represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip R. Smith sold 3,000 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.17, for a total transaction of $39,510.00. Following the completion of the sale, the director owned 7,497 shares of the company's stock, valued at approximately $98,735.49. The trade was a 28.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western New England Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Western New England Bancorp in the second quarter valued at about $39,000. Sound Income Strategies LLC purchased a new position in Western New England Bancorp in the first quarter valued at about $40,000. BNP Paribas Financial Markets increased its holdings in Western New England Bancorp by 95.7% in the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider's stock valued at $60,000 after buying an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Western New England Bancorp by 51,300.0% in the second quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider's stock valued at $81,000 after buying an additional 8,721 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Western New England Bancorp in the second quarter valued at about $93,000. Institutional investors and hedge funds own 67.95% of the company's stock.

Western New England Bancorp Stock Performance

NASDAQ WNEB opened at $13.39 on Friday. 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 has a 1 year low of $8.52 and a 1 year high of $14.52. The company has a market capitalization of $269.41 million, a PE ratio of 15.05 and a beta of 0.79. The company has a fifty day moving average of $13.40 and a two-hundred day moving average of $13.03.

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

Western New England Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, May 13th. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. Western New England Bancorp's dividend payout ratio is 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.

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