Western New England Bancorp (NASDAQ:WNEB) Receives New Coverage from Analysts at DA Davidson

DA Davidson began coverage on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $10.00 price target on the financial services provider’s stock.

Several other brokerages also recently weighed in on WNEB. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research reiterated a hold rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Finally, BidaskClub downgraded YRC Worldwide from a buy rating to a hold rating in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $10.50.

NASDAQ:WNEB traded up $0.03 during mid-day trading on Thursday, reaching $9.40. The stock had a trading volume of 601 shares, compared to its average volume of 34,423. The company has a 50 day moving average price of $9.25. The company has a market capitalization of $254.14 million, a PE ratio of 16.79 and a beta of 0.21. Western New England Bancorp has a one year low of $8.50 and a one year high of $11.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.86.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. The company had revenue of $16.50 million during the quarter, compared to the consensus estimate of $17.01 million. Western New England Bancorp had a return on equity of 6.81% and a net margin of 18.14%. Equities research analysts anticipate that Western New England Bancorp will post 0.52 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its position in Western New England Bancorp by 525.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,407 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 4,542 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Western New England Bancorp by 346.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 7,494 shares during the last quarter. SG Americas Securities LLC bought a new stake in Western New England Bancorp in the first quarter valued at approximately $112,000. Bank of America Corp DE lifted its position in Western New England Bancorp by 34.6% in the fourth quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 6,876 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Western New England Bancorp by 2,820.8% in the first quarter. Acadian Asset Management LLC now owns 29,617 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 28,603 shares during the last quarter. Hedge funds and other institutional investors own 52.60% 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 commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.

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