Zacks Investment Research upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a research note released 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. “

WNEB has been the topic of several other reports. BidaskClub upgraded Western New England Bancorp from a sell rating to a hold rating in a research report on Wednesday, September 12th. Compass Point upgraded Western New England Bancorp from a neutral rating to a buy rating and lifted their price target for the company from $11.00 to $12.00 in a research report on Thursday, June 28th. Finally, Sandler O’Neill cut Western New England Bancorp from a buy rating to a hold rating and set a $12.00 target price on the stock. in a report on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Western New England Bancorp currently has a consensus rating of Hold and an average target price of $11.88.

Shares of WNEB stock opened at $10.11 on Friday. 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 cap of $300.74 million, a PE ratio of 20.22 and a beta of 0.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.04 and a current ratio of 1.04.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $18.80 million for the quarter, compared to analysts’ expectations of $17.20 million. As a group, research analysts expect that Western New England Bancorp will post 0.59 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its holdings in shares of Western New England Bancorp by 7.5% in 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 last quarter. Renaissance Technologies LLC grew its holdings in shares of Western New England Bancorp by 7.0% in 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Western New England Bancorp by 1.6% in 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 last quarter. BlackRock Inc. grew its holdings in shares of Western New England Bancorp by 1.6% in 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 last quarter. Finally, Royce & Associates LP grew its holdings in shares of Western New England Bancorp by 17.0% in 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 last quarter. Institutional investors and hedge funds 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.

Further Reading: Book Value Per Share – BVPS

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