Western New England Bancorp (WNEB) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a report released on Tuesday, April 30th, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Western New England Bancorp from a buy rating to a hold rating in a research note on Thursday, April 18th. ValuEngine raised shares of Western New England Bancorp from a sell rating to a hold rating in a research report on Monday, February 4th. Finally, Compass Point raised shares of Western New England Bancorp from a neutral rating to a buy rating and increased their price objective for the stock from $10.00 to $10.50 in a research report on Wednesday, January 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Western New England Bancorp presently has an average rating of Hold and a consensus price target of $10.75.

WNEB stock opened at $9.59 on Tuesday. The stock has a market capitalization of $258.45 million, a price-to-earnings ratio of 17.13 and a beta of 0.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.03 and a quick ratio of 1.03. Western New England Bancorp has a 12 month low of $8.50 and a 12 month high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. The business had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $17.01 million. On average, sell-side analysts expect that Western New England Bancorp will post 0.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.09%. Western New England Bancorp’s payout ratio is currently 35.71%.

In other Western New England Bancorp news, SVP William J. Wagner sold 57,372 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $9.90, for a total value of $567,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guida R. Sajdak sold 5,054 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.00, for a total transaction of $50,540.00. The disclosure for this sale can be found here. Insiders sold a total of 67,422 shares of company stock valued at $668,059 in the last three months. 5.22% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in WNEB. Dimensional Fund Advisors LP raised its holdings in shares of Western New England Bancorp by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,303,968 shares of the financial services provider’s stock valued at $23,132,000 after purchasing an additional 59,945 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Western New England Bancorp by 3.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,685,209 shares of the financial services provider’s stock valued at $15,554,000 after purchasing an additional 51,482 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Western New England Bancorp in the 4th quarter valued at $310,000. Acadian Asset Management LLC raised its holdings in shares of Western New England Bancorp by 2,820.8% in the 1st quarter. Acadian Asset Management LLC now owns 29,617 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 28,603 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Western New England Bancorp by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 303,684 shares of the financial services provider’s stock valued at $2,803,000 after purchasing an additional 26,132 shares in the last quarter. Institutional investors and hedge funds own 58.31% of the company’s stock.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.

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