Western New England Bancorp (NASDAQ:WNEB) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a research note issued to investors on Wednesday, September 12th.

Several other equities research analysts have also recently weighed in on WNEB. Compass Point raised shares of Western New England Bancorp from a neutral rating to a buy rating and increased their price target for the company from $11.00 to $12.00 in a research report on Thursday, June 28th. Zacks Investment Research raised shares of Western New England Bancorp from a sell rating to a hold rating in a research report on Wednesday, June 6th. Finally, Sandler O’Neill cut shares of Western New England Bancorp from a buy rating to a hold rating and set a $12.00 price target for the company. in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $11.88.

Shares of WNEB stock traded up $0.04 on Wednesday, hitting $10.60. 29,886 shares of the company’s stock traded hands, compared to its average volume of 37,170. 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 has a one year low of $9.80 and a one year high of $11.25. The firm has a market cap of $321.26 million, a P/E ratio of 21.20 and a beta of 0.26.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, July 24th. The financial services provider reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The company had revenue of $18.80 million for the quarter, compared to analyst estimates of $17.20 million. Western New England Bancorp had a net margin of 14.08% and a return on equity of 6.48%. As a group, analysts forecast that Western New England Bancorp will post 0.59 EPS for the current year.

Several institutional investors have recently modified their holdings of WNEB. RMB Capital Management LLC increased its stake in shares of Western New England Bancorp by 11.1% in the 1st quarter. RMB Capital Management LLC now owns 1,407,814 shares of the financial services provider’s stock worth $14,993,000 after acquiring an additional 140,873 shares in the last quarter. Renaissance Technologies LLC increased its stake in Western New England Bancorp by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,574,409 shares of the financial services provider’s stock valued at $17,318,000 after purchasing an additional 102,982 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in Western New England Bancorp by 42.8% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 289,534 shares of the financial services provider’s stock valued at $3,185,000 after purchasing an additional 86,812 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Western New England Bancorp by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,161,545 shares of the financial services provider’s stock valued at $23,020,000 after purchasing an additional 84,320 shares in the last quarter. Finally, Royce & Associates LP increased its stake in Western New England Bancorp by 17.0% during the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock valued at $5,409,000 after purchasing an additional 71,300 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

About Western New England Bancorp

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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