Piper Jaffray Companies reaffirmed their buy rating on shares of Western New England Bancorp (NASDAQ:WNEB) in a research note issued to investors on Friday. Piper Jaffray Companies currently has a $11.50 price objective on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. ValuEngine raised Western New England Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded Western New England Bancorp from a buy rating to a hold rating in a research report on Wednesday, July 5th. TheStreet raised Western New England Bancorp from a c+ rating to a b rating in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reissued a neutral rating on shares of Western New England Bancorp in a research report on Wednesday, April 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Western New England Bancorp presently has an average rating of Buy and an average target price of $11.67.

Western New England Bancorp (NASDAQ:WNEB) opened at 9.95 on Friday. The company has a market cap of $298.30 million, a P/E ratio of 22.98 and a beta of 0.41. The company’s 50 day moving average price is $10.29 and its 200 day moving average price is $10.13. Western New England Bancorp has a 52-week low of $7.41 and a 52-week high of $10.95.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $16.82 million for the quarter, compared to analyst estimates of $16.74 million. Western New England Bancorp had a return on equity of 5.74% and a net margin of 15.93%. Equities research analysts anticipate that Western New England Bancorp will post $0.58 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, August 7th. Western New England Bancorp’s payout ratio is presently 30.00%.

In other Western New England Bancorp news, insider William J. Wagner sold 162,363 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $10.21, for a total transaction of $1,657,726.23. Following the completion of the sale, the insider now directly owns 341,900 shares in the company, valued at $3,490,799. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Western New England Bancorp during the second quarter valued at $636,000. Goldman Sachs Group Inc. boosted its stake in Western New England Bancorp by 15.7% in the first quarter. Goldman Sachs Group Inc. now owns 75,969 shares of the financial services provider’s stock valued at $798,000 after buying an additional 10,334 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Western New England Bancorp by 17.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,248 shares of the financial services provider’s stock valued at $202,000 after buying an additional 2,902 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Western New England Bancorp by 104.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,100 shares of the financial services provider’s stock valued at $411,000 after buying an additional 20,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Western New England Bancorp by 7.8% in the first quarter. Renaissance Technologies LLC now owns 1,264,909 shares of the financial services provider’s stock valued at $13,282,000 after buying an additional 91,679 shares during the last quarter. Hedge funds and other institutional investors own 53.42% of the company’s stock.

Western New England Bancorp Company Profile

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.

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