Western New England Bancorp (NASDAQ:WNEB) Earns “Neutral” Rating from Seaport Research Partners

Western New England Bancorp (NASDAQ:WNEBGet Free Report)‘s stock had its “neutral” rating reiterated by analysts at Seaport Research Partners in a note issued to investors on Wednesday,Benzinga reports.

A number of other equities analysts have also weighed in on WNEB. Weiss Ratings raised Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Western New England Bancorp in a research report 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. Finally, Zacks Research downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Get Our Latest Research Report on Western New England Bancorp

Western New England Bancorp Stock Performance

Shares of Western New England Bancorp stock opened at $14.66 on Wednesday. The business has a 50-day simple moving average of $13.90 and a 200 day simple moving average of $13.54. Western New England Bancorp has a one year low of $10.25 and a one year high of $15.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $294.96 million, a price-to-earnings ratio of 16.47 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEBGet Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%.The firm had revenue of $22.13 million during the quarter, compared to the consensus estimate of $22.74 million. On average, research analysts anticipate that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of Western New England Bancorp stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total transaction of $49,385.60. Following the sale, the senior vice president directly owned 14,048 shares in the company, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.56% of the company’s stock.

Hedge Funds 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. Invesco Ltd. increased its holdings in Western New England Bancorp by 15.9% during the fourth quarter. Invesco Ltd. now owns 24,223 shares of the financial services provider’s stock worth $306,000 after buying an additional 3,328 shares during the last quarter. Deutsche Bank AG purchased a new position in Western New England Bancorp in the fourth quarter valued at about $204,000. Cubist Systematic Strategies LLC boosted its stake in Western New England Bancorp by 141.6% in the first quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 10,358 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Western New England Bancorp by 9.8% during the 4th quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 726 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Western New England Bancorp during the 2nd quarter valued at approximately $102,000. 67.95% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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