Zacks Investment Research upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a report issued on Thursday morning.

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. “

Other equities analysts also recently issued research reports about the stock. Piper Jaffray Companies reaffirmed a buy rating and set a $11.50 price target on shares of Western New England Bancorp in a report on Friday, July 28th. ValuEngine raised shares of Western New England Bancorp from a hold rating to a buy rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $11.67.

Shares of Western New England Bancorp (NASDAQ WNEB) traded down 0.91% during trading on Thursday, hitting $10.90. 41,170 shares of the stock were exchanged. The stock has a market cap of $326.78 million, a PE ratio of 25.17 and a beta of 0.41. Western New England Bancorp has a 52-week low of $7.45 and a 52-week high of $11.00. The firm has a 50 day moving average of $9.94 and a 200-day moving average of $10.20.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Western New England Bancorp had a net margin of 15.93% and a return on equity of 5.47%. The firm had revenue of $16.82 million for the quarter, compared to analysts’ expectations of $16.74 million. Equities research analysts anticipate that Western New England Bancorp will post $0.58 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. raised its position in shares of Western New England Bancorp by 1.0% during the second quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock valued at $118,000 after buying an additional 117 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Western New England Bancorp by 2.0% during the second quarter. Wells Fargo & Company MN now owns 25,046 shares of the financial services provider’s stock valued at $254,000 after buying an additional 491 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Western New England Bancorp by 9.5% during the second quarter. Nationwide Fund Advisors now owns 19,793 shares of the financial services provider’s stock valued at $201,000 after buying an additional 1,725 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Western New England Bancorp by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 25,189 shares of the financial services provider’s stock valued at $255,000 after buying an additional 1,873 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in shares of Western New England Bancorp by 2.3% during the second quarter. Brandywine Global Investment Management LLC now owns 90,731 shares of the financial services provider’s stock valued at $921,000 after buying an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 56.02% 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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