Western New England Bancorp (NASDAQ:WNEB) Given Neutral Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report released on Wednesday, Benzinga reports. Piper Sandler currently has a $7.50 price target on the financial services provider’s stock, down from their previous price target of $9.00.

Western New England Bancorp Stock Performance

Shares of Western New England Bancorp stock opened at $6.52 on Wednesday. The firm’s fifty day simple moving average is $7.57 and its 200-day simple moving average is $7.88. The stock has a market capitalization of $141.55 million, a price-to-earnings ratio of 10.87 and a beta of 0.61. Western New England Bancorp has a 12 month low of $5.58 and a 12 month high of $9.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $18.89 million during the quarter, compared to analyst estimates of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. As a group, equities analysts forecast that Western New England Bancorp will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors have recently modified their holdings of WNEB. International Assets Investment Management LLC increased 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 acquiring an additional 4,465 shares during the period. Essex Financial Services Inc. grew its position in Western New England Bancorp by 14.2% in the 3rd quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock valued at $101,000 after buying an additional 1,929 shares during the last quarter. Ritholtz Wealth Management grew its position in Western New England Bancorp by 27.4% in the 3rd quarter. Ritholtz Wealth Management now owns 22,122 shares of the financial services provider’s stock valued at $144,000 after buying an additional 4,757 shares during the last quarter. Raymond James & Associates grew its position in Western New England Bancorp by 10.3% in the 3rd quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,081 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its position in Western New England Bancorp by 19.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after buying an additional 3,585 shares during the last quarter. 67.95% of the stock is owned by institutional investors and hedge funds.

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.