ValuEngine upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a buy rating in a research note published on Tuesday.

A number of other equities research analysts have also recently commented on WNEB. Keefe, Bruyette & Woods reiterated a neutral rating on shares of Western New England Bancorp in a research note on Wednesday, April 26th. Zacks Investment Research cut Western New England Bancorp from a buy rating to a hold rating in a research note on Tuesday, May 2nd. Finally, TheStreet upgraded Western New England Bancorp from a c+ rating to a b rating in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $11.67.

Western New England Bancorp (WNEB) traded down 0.50% during midday trading on Tuesday, reaching $9.95. The company had a trading volume of 21,938 shares. The firm has a 50-day moving average of $10.31 and a 200 day moving average of $10.11. Western New England Bancorp has a 1-year low of $7.41 and a 1-year high of $10.95. The company has a market capitalization of $298.30 million, a P/E ratio of 22.98 and a beta of 0.41.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.01. Western New England Bancorp had a net margin of 15.93% and a return on equity of 5.74%. The business had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $16.74 million. On average, equities research analysts forecast that Western New England Bancorp will post $0.58 EPS for the current year.

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

In other Western New England Bancorp news, insider William J. Wagner sold 162,363 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $10.21, for a total value 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 document filed with the SEC, which is available at this link. Company insiders own 6.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC purchased a new position in shares of Western New England Bancorp during the fourth quarter worth $328,000. Dalton Greiner Hartman Maher & Co. raised its position in shares of Western New England Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 181,620 shares of the financial services provider’s stock worth $1,907,000 after buying an additional 706 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Western New England Bancorp by 32.5% in the first quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock worth $190,000 after buying an additional 4,428 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Western New England Bancorp during the first quarter worth $440,000. Finally, First Trust Advisors LP purchased a new position in shares of Western New England Bancorp during the first quarter worth $225,000. Institutional investors own 53.28% of the company’s stock.

About Western New England Bancorp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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