BidaskClub upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
WNEB has been the subject of a number of other research reports. Zacks Investment Research upgraded Western New England Bancorp from a hold rating to a buy rating and set a $12.00 target price for the company in a report on Sunday, January 21st. Sandler O’Neill started coverage on Western New England Bancorp in a research report on Tuesday, December 5th. They set a buy rating and a $13.00 price target on the stock. Finally, Piper Jaffray Companies reissued a hold rating and set a $11.50 price target on shares of Western New England Bancorp in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Western New England Bancorp currently has a consensus rating of Hold and a consensus price target of $11.88.
Shares of Western New England Bancorp (NASDAQ WNEB) traded up $0.10 during trading hours on Thursday, hitting $10.90. The stock had a trading volume of 46,146 shares, compared to its average volume of 39,843. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. Western New England Bancorp has a 1-year low of $9.30 and a 1-year high of $11.25. The stock has a market cap of $329.26, a PE ratio of 21.60 and a beta of 0.42.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, February 13th. This is a positive change from Western New England Bancorp’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.47%. Western New England Bancorp’s payout ratio is 39.03%.
In related news, SVP Cidalia Inacio sold 12,125 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $10.69, for a total transaction of $129,616.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.58% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP lifted its position in Western New England Bancorp by 31.5% during the 3rd quarter. Royce & Associates LP now owns 354,454 shares of the financial services provider’s stock worth $3,864,000 after acquiring an additional 85,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Western New England Bancorp by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,994,548 shares of the financial services provider’s stock valued at $21,741,000 after purchasing an additional 57,988 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of Western New England Bancorp by 26.9% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 220,081 shares of the financial services provider’s stock valued at $2,399,000 after purchasing an additional 46,708 shares in the last quarter. Northern Trust Corp raised its position in shares of Western New England Bancorp by 12.3% in the 2nd quarter. Northern Trust Corp now owns 329,983 shares of the financial services provider’s stock valued at $3,350,000 after purchasing an additional 36,105 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Western New England Bancorp in the 2nd quarter valued at approximately $297,000. 54.08% of the stock is currently owned by hedge funds and other institutional investors.
About Western New England Bancorp
Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.
Receive News & Ratings for Western New England Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western New England Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.