Western New England Bancorp (NASDAQ:WNEB) Downgraded to “Hold” at Seaport Res Ptn

Seaport Res Ptn lowered shares of Western New England Bancorp (NASDAQ:WNEB) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports. Seaport Res Ptn also issued estimates for Western New England Bancorp’s Q3 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.58 EPS.

A number of other equities analysts also recently commented on WNEB. Janney Montgomery Scott downgraded Western New England Bancorp from a buy rating to a neutral rating in a research report on Thursday. Piper Sandler lifted their price target on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a neutral rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Western New England Bancorp has a consensus rating of Hold and a consensus target price of $8.00.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $8.46 on Wednesday. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day moving average price is $6.96 and its 200-day moving average price is $7.42. The firm has a market cap of $182.99 million, a P/E ratio of 14.10 and a beta of 0.69.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.74%. The business had revenue of $30.64 million for the quarter, compared to analysts’ expectations of $18.22 million. As a group, equities research analysts predict that Western New England Bancorp will post 0.53 EPS 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 21st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 3.31%. Western New England Bancorp’s dividend payout ratio is presently 46.67%.

Hedge Funds Weigh In On Western New England Bancorp

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of Western New England Bancorp by 808.9% in the 4th quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 4,465 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Western New England Bancorp during the first quarter worth approximately $85,000. Legato Capital Management LLC lifted its stake in Western New England Bancorp by 39.0% in the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after buying an additional 6,021 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Western New England Bancorp by 19.3% in the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 3,585 shares during the period. Finally, Quadrature Capital Ltd grew its position 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 acquiring an additional 7,482 shares during the last quarter. Hedge funds and other institutional investors own 67.95% 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 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.