Shares of Western New England Bancorp (NASDAQ:WNEB) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $11.50.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Western New England Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday. Compass Point cut Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.00 price objective on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. ValuEngine cut Western New England Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $11.50 price objective on shares of Western New England Bancorp in a research report on Friday, July 28th.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Sunday, October 8th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, October 5th. Western New England Bancorp’s dividend payout ratio (DPR) is 24.49%.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Western New England Bancorp in the 2nd quarter valued at approximately $117,000. 1st Global Advisors Inc. increased its stake in Western New England Bancorp by 1.0% in the 2nd quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 117 shares in the last quarter. Voya Investment Management LLC purchased a new position in Western New England Bancorp in the 2nd quarter valued at approximately $119,000. American International Group Inc. increased its stake in Western New England Bancorp by 49.6% in the 1st quarter. American International Group Inc. now owns 13,691 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 4,540 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Western New England Bancorp by 32.5% in the 1st quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 4,428 shares in the last quarter. 55.83% of the stock is owned by hedge funds and other institutional investors.

About Western New England Bancorp

Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.

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