Western New England Bancorp Inc (WNEB) Receives Consensus Rating of “Hold” from Brokerages

Western New England Bancorp Inc (NASDAQ:WNEB) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.83.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Western New England Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $11.50 price objective on shares of Western New England Bancorp in a research note on Tuesday, January 9th. BidaskClub lowered shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Compass Point lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 18th.

Shares of Western New England Bancorp (NASDAQ:WNEB) remained flat at $$9.95 during trading hours on Friday. 49,188 shares of the company’s stock traded hands, compared to its average volume of 31,926. The company has a market cap of $303.35, a price-to-earnings ratio of 24.27 and a beta of 0.35. Western New England Bancorp has a 52 week low of $9.30 and a 52 week high of $11.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, February 13th. This is a positive change from Western New England Bancorp’s previous quarterly dividend of $0.03. Western New England Bancorp’s payout ratio is presently 29.27%.

Several hedge funds have recently added to or reduced their stakes in WNEB. Bank of New York Mellon Corp lifted its stake in shares of Western New England Bancorp by 9.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 176,064 shares of the financial services provider’s stock valued at $1,787,000 after purchasing an additional 14,845 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Western New England Bancorp by 2.0% in the 2nd quarter. Wells Fargo & Company MN now owns 25,046 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 491 shares during the last quarter. Alliancebernstein L.P. bought a new position in Western New England Bancorp in the 2nd quarter worth $191,000. Teachers Advisors LLC raised its holdings in Western New England Bancorp by 38.6% in the 2nd quarter. Teachers Advisors LLC now owns 48,650 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 13,551 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Western New England Bancorp by 40.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 77,445 shares of the financial services provider’s stock worth $786,000 after acquiring an additional 22,388 shares during the period. 56.76% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This story was first posted by American Banking News and is the property of of American Banking News. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/10/western-new-england-bancorp-inc-wneb-receives-consensus-rating-of-hold-from-brokerages.html.

Western New England Bancorp Company Profile

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.

Receive News & Ratings for Western New England Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western New England Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply