Western New England Bancorp (NASDAQ:WNEB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Western New England Bancorp (NASDAQ:WNEB) have been given an average rating of “Moderate Buy” by the three ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western New England Bancorp in a research note on Wednesday, October 8th.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $13.13 on Friday. The stock has a market capitalization of $269.03 million, a price-to-earnings ratio of 19.89 and a beta of 0.83. Western New England Bancorp has a 52-week low of $7.63 and a 52-week high of $13.95. The stock’s 50 day moving average price is $12.52 and its two-hundred day moving average price is $11.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). Western New England Bancorp had a net margin of 10.33% and a return on equity of 5.58%. The company had revenue of $18.06 million during the quarter, compared to the consensus estimate of $17.99 million. On average, equities analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 12th. Western New England Bancorp’s payout ratio is presently 42.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WNEB. Cubist Systematic Strategies LLC grew 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 period. Goldman Sachs Group Inc. grew its position in Western New England Bancorp by 36.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 24,597 shares during the period. Empowered Funds LLC increased its stake in Western New England Bancorp by 7.0% during the 1st quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 5,883 shares in the last quarter. Jane Street Group LLC raised its holdings in Western New England Bancorp by 190.1% during the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after buying an additional 52,858 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Western New England Bancorp during the second quarter worth $161,000. Institutional investors own 67.95% of the company’s stock.

About Western New England Bancorp

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.