Western New England Bancorp (NASDAQ:WNEB) Stock Rating Reaffirmed by Piper Sandler

Western New England Bancorp (NASDAQ:WNEB)‘s stock had its “neutral” rating reiterated by equities research analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They presently have a $7.50 price target on the financial services provider’s stock, down from their previous price target of $9.00. Piper Sandler’s target price indicates a potential upside of 12.61% from the stock’s current price.

Western New England Bancorp Price Performance

Shares of WNEB opened at $6.66 on Wednesday. The company has a market capitalization of $144.59 million, a price-to-earnings ratio of 11.10 and a beta of 0.61. Western New England Bancorp has a fifty-two week low of $5.58 and a fifty-two week high of $9.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50-day moving average is $7.54 and its 200-day moving average is $7.87.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Western New England Bancorp had a return on equity of 5.44% and a net margin of 11.10%. The firm had revenue of $18.89 million during the quarter, compared to analyst estimates of $18.67 million. Equities research analysts expect that Western New England Bancorp will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Western New England Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WNEB. International Assets Investment Management LLC boosted its position in shares of Western New England Bancorp by 808.9% in the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 4,465 shares during the period. Essex Financial Services Inc. lifted its holdings in shares of Western New England Bancorp by 14.2% during the third quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 1,929 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Western New England Bancorp by 27.4% during the third quarter. Ritholtz Wealth Management now owns 22,122 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 4,757 shares during the period. Raymond James & Associates lifted its holdings in shares of Western New England Bancorp by 10.3% during the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 2,081 shares during the period. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Western New England Bancorp by 19.3% during the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 3,585 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.