Western New England Bancorp (NASDAQ:WNEB) PT Raised to $8.50

Western New England Bancorp (NASDAQ:WNEB) had its price objective raised by investment analysts at Piper Sandler from $7.00 to $8.50 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 0.12% from the stock’s previous close.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $8.49 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $6.90 and its 200-day moving average is $7.42. The firm has a market capitalization of $183.64 million, a PE ratio of 14.15 and a beta of 0.69. Western New England Bancorp has a fifty-two week low of $6.00 and a fifty-two week high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $30.64 million for the quarter, compared to the consensus estimate of $18.22 million. Western New England Bancorp had a return on equity of 5.74% and a net margin of 11.33%. Sell-side analysts anticipate that Western New England Bancorp will post 0.49 earnings per share for the current year.

Institutional Trading of Western New England Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in Western New England Bancorp by 808.9% during the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 4,465 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Western New England Bancorp during the first quarter worth approximately $85,000. Quadrature Capital Ltd increased its stake in shares of Western New England Bancorp by 50.9% during the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 7,482 shares during the period. ST Germain D J Co. Inc. lifted its holdings in Western New England Bancorp by 19.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 3,585 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Western New England Bancorp by 8.7% in the 4th quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock valued at $216,000 after buying an additional 1,917 shares in the last quarter. Institutional investors 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.