BidaskClub cut shares of Western New England Bancorp (NASDAQ:WNEB) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Separately, Zacks Investment Research downgraded Western New England Bancorp from a hold rating to a sell rating in a research report on Thursday, October 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Western New England Bancorp currently has an average rating of Hold and an average target price of $11.88.

NASDAQ:WNEB opened at $9.77 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $284.66 million, a P/E ratio of 17.66 and a beta of 0.34. Western New England Bancorp has a 52-week low of $9.55 and a 52-week high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $16.90 million for the quarter, compared to the consensus estimate of $17.49 million. Western New England Bancorp had a return on equity of 6.60% and a net margin of 14.03%. On average, analysts anticipate that Western New England Bancorp will post 0.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, November 6th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 32.00%.

In other Western New England Bancorp news, Director Philip R. Smith purchased 4,000 shares of the stock in a transaction on Monday, October 29th. The shares were purchased at an average price of $10.29 per share, with a total value of $41,160.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.35% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in Western New England Bancorp during the third quarter worth approximately $114,000. JPMorgan Chase & Co. increased its position in Western New England Bancorp by 119.2% during the third quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock worth $129,000 after buying an additional 6,520 shares during the last quarter. MetLife Investment Advisors LLC increased its position in Western New England Bancorp by 55.9% during the third quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock worth $226,000 after buying an additional 7,494 shares during the last quarter. California Public Employees Retirement System increased its position in Western New England Bancorp by 7.5% during the second quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock worth $866,000 after buying an additional 5,510 shares during the last quarter. Finally, Royce & Associates LP increased its position in Western New England Bancorp by 17.0% during the second quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after buying an additional 71,300 shares during the last quarter. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

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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