Western New England Bancorp (NASDAQ:WNEB) was downgraded by stock analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report issued on Friday.

A number of other equities research analysts also recently weighed in on the stock. ValuEngine raised shares of Western New England Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.00 price objective on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, Compass Point downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.50.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Western New England Bancorp in the 2nd quarter worth about $117,000. 1st Global Advisors Inc. grew its position in Western New England Bancorp by 1.0% in the 2nd quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Western New England Bancorp by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,189 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 1,873 shares during the last quarter. State Street Corp grew its position in Western New England Bancorp by 11.0% in the 2nd quarter. State Street Corp now owns 501,790 shares of the financial services provider’s stock worth $5,091,000 after purchasing an additional 49,883 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its position in Western New England Bancorp by 2.3% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 90,731 shares of the financial services provider’s stock worth $921,000 after purchasing an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 55.83% 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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