Western New England Bancorp (NASDAQ:WNEB) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

WNEB has been the subject of a number of other research reports. Piper Sandler increased their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Finally, Zacks Research downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.50.

Western New England Bancorp Stock Down 1.4%

WNEB stock opened at $13.86 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.92. The company has a market capitalization of $277.89 million, a price-to-earnings ratio of 16.50 and a beta of 0.76. Western New England Bancorp has a fifty-two week low of $10.78 and a fifty-two week high of $15.01. The stock has a fifty day moving average of $13.99 and a 200-day moving average of $13.60.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%.The firm had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $22.74 million. As a group, equities research analysts predict that Western New England Bancorp will post 0.94 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Western New England Bancorp’s dividend payout ratio is 33.33%.

Insider Buying and Selling

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the transaction, the senior vice president owned 14,048 shares in the company, valued at $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western New England Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Western New England Bancorp in the second quarter valued at approximately $39,000. Sound Income Strategies LLC purchased a new position in Western New England Bancorp during the first quarter valued at approximately $40,000. BNP Paribas Financial Markets grew its stake in Western New England Bancorp by 95.7% during the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Western New England Bancorp by 51,300.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 8,721 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Western New England Bancorp during the 2nd quarter worth approximately $93,000. 67.95% of the stock is currently owned by institutional investors.

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.