Western New England Bancorp (WNEB) Lifted to “Hold” at Zacks Investment Research

Western New England Bancorp (NASDAQ:WNEB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Western New England Bancorp, Inc. provides banking services. The Company offers personal checking accounts, loans, eBanking services, commercial loans, money market accounts, wealth management, retirement planning and other related financial services. Western New England Bancorp, Inc., formerly known as Westfield Financial, Inc., is based in Westfield, MA. “

A number of other equities analysts have also weighed in on the company. BidaskClub lowered Western New England Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Sandler O’Neill lowered Western New England Bancorp from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Wednesday, July 25th. Finally, Compass Point upgraded Western New England Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a research report on Thursday, June 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.88.

Shares of NASDAQ:WNEB traded up $0.02 during midday trading on Friday, reaching $10.13. The company had a trading volume of 832 shares, compared to its average volume of 37,884. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.89. Western New England Bancorp has a 1-year low of $9.80 and a 1-year high of $11.25. The firm has a market capitalization of $301.93 million, a price-to-earnings ratio of 20.30 and a beta of 0.26.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. Western New England Bancorp had a return on equity of 6.48% and a net margin of 14.08%. The business had revenue of $18.80 million during the quarter, compared to analyst estimates of $17.20 million. Equities analysts predict that Western New England Bancorp will post 0.59 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in Western New England Bancorp by 7.5% during the 2nd quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock worth $866,000 after acquiring an additional 5,510 shares during the period. Renaissance Technologies LLC boosted its position in Western New England Bancorp by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,574,409 shares of the financial services provider’s stock worth $17,318,000 after acquiring an additional 102,982 shares during the period. Dimensional Fund Advisors LP boosted its position in Western New England Bancorp by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,196,685 shares of the financial services provider’s stock worth $24,163,000 after acquiring an additional 35,140 shares during the period. BlackRock Inc. boosted its position in Western New England Bancorp by 1.6% during the 2nd quarter. BlackRock Inc. now owns 2,217,666 shares of the financial services provider’s stock worth $24,393,000 after acquiring an additional 35,747 shares during the period. Finally, Royce & Associates LP boosted its position in Western New England Bancorp by 17.0% during the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after acquiring an additional 71,300 shares during the period. Hedge funds and other institutional investors own 55.50% 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 community banking products and services to individuals and businesses. The company accepts various deposit accounts, including time deposits, money market accounts, savings accounts, demand accounts, and interest bearing checking accounts.

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