Janney Montgomery Scott Lowers Western New England Bancorp (NASDAQ:WNEB) to Neutral

Janney Montgomery Scott lowered shares of Western New England Bancorp (NASDAQ:WNEB) from a buy rating to a neutral rating in a research report report published on Thursday morning, Marketbeat.com reports.

Separately, Piper Sandler boosted their price target on Western New England Bancorp from $7.00 to $8.50 and gave the stock a neutral rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Western New England Bancorp presently has an average rating of Hold and an average price target of $8.00.

Western New England Bancorp Stock Performance

Western New England Bancorp stock opened at $8.46 on Thursday. Western New England Bancorp has a 12-month low of $6.00 and a 12-month high of $9.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $6.96 and its two-hundred day moving average price is $7.42. The stock has a market cap of $182.99 million, a PE ratio of 14.10 and a beta of 0.69.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a return on equity of 5.74% and a net margin of 11.33%. The firm had revenue of $30.64 million for the quarter, compared to analysts’ expectations of $18.22 million. As a group, analysts expect that Western New England Bancorp will post 0.53 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Wednesday, August 7th. Western New England Bancorp’s payout ratio is currently 46.67%.

Institutional Investors Weigh In On Western New England Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. grew its stake in Western New England Bancorp by 7.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider’s stock valued at $2,924,000 after purchasing an additional 28,000 shares during the period. Acadian Asset Management LLC grew its stake in Western New England Bancorp by 8.5% in the 1st quarter. Acadian Asset Management LLC now owns 344,810 shares of the financial services provider’s stock valued at $2,643,000 after purchasing an additional 26,960 shares during the period. Federated Hermes Inc. grew its stake in Western New England Bancorp by 1.6% in the 4th quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 2,656 shares during the period. White Pine Capital LLC grew its stake in Western New England Bancorp by 28.6% in the 4th quarter. White Pine Capital LLC now owns 101,352 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 22,541 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Western New England Bancorp by 32.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 81,972 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 20,025 shares during the period. 67.95% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Company Profile

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.