Shares of Western New England Bancorp (NASDAQ:WNEB – Get Free Report) have been given an average rating of “Moderate Buy” by the four analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.00.
A number of research firms have weighed in on WNEB. Seaport Research Partners upped their target price on Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Zacks Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Hovde Group upgraded Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. Weiss Ratings raised 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 issued a $15.00 price objective on shares of Western New England Bancorp in a report on Wednesday, April 29th.
Check Out Our Latest Report on Western New England Bancorp
Western New England Bancorp Stock Performance
Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts anticipate that Western New England Bancorp will post 1 EPS for the current year.
Western New England Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.9%. Western New England Bancorp’s dividend payout ratio is currently 31.46%.
Insider Activity
In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the 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 transaction, the senior vice president directly owned 14,048 shares in the company, valued at $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.56% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Western New England Bancorp
Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in shares of Western New England Bancorp during the second quarter valued at approximately $39,000. Sound Income Strategies LLC bought a new stake in shares of Western New England Bancorp in the 1st quarter worth approximately $40,000. BNP Paribas Financial Markets boosted its position in shares of Western New England Bancorp by 95.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Western New England Bancorp by 51,300.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock worth $81,000 after buying an additional 8,721 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Western New England Bancorp in the 2nd quarter worth approximately $93,000. Institutional investors own 67.95% of the company’s stock.
Western New England Bancorp Company Profile
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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