Western New England Bancorp, Inc. (NASDAQ:WNEB) Receives $7.50 Consensus Price Target from Analysts

Western New England Bancorp, Inc. (NASDAQ:WNEB) has been given an average recommendation of “Hold” by the three analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.50.

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $7.50 target price (down from $9.00) on shares of Western New England Bancorp in a report on Wednesday.

Western New England Bancorp Stock Performance

WNEB opened at $6.45 on Wednesday. Western New England Bancorp has a 12-month low of $5.58 and a 12-month high of $9.25. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $140.03 million, a PE ratio of 10.75 and a beta of 0.61. The firm has a 50 day moving average of $7.50 and a two-hundred day moving average of $7.87.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $18.89 million for the quarter, compared to analysts’ expectations of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. On average, analysts anticipate that Western New England Bancorp will post 0.54 EPS for the current year.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.28 dividend on an annualized basis and a yield of 4.34%. Western New England Bancorp’s dividend payout ratio is currently 46.67%.

Institutional Investors Weigh In On Western New England Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management raised its holdings in shares of Western New England Bancorp by 27.4% during the 3rd quarter. Ritholtz Wealth Management now owns 22,122 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 4,757 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of Western New England Bancorp by 9.2% during the 3rd quarter. Hennessy Advisors Inc. now owns 387,538 shares of the financial services provider’s stock worth $2,515,000 after acquiring an additional 32,538 shares during the period. Raymond James & Associates raised its holdings in shares of Western New England Bancorp by 10.3% during the 3rd quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 2,081 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Western New England Bancorp during the 3rd quarter worth $402,000. Finally, Barclays PLC raised its holdings in Western New England Bancorp by 13.8% in the 3rd quarter. Barclays PLC now owns 40,838 shares of the financial services provider’s stock valued at $265,000 after buying an additional 4,948 shares during the period. 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.