Western New England Bancorp (WNEB) Upgraded to Hold by ValuEngine

Western New England Bancorp (NASDAQ:WNEB) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, February 4th.

Other analysts have also recently issued reports about the company. BidaskClub raised Western New England Bancorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Zacks Investment Research raised Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Finally, Compass Point cut Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.75.

Shares of WNEB traded up $0.06 during mid-day trading on Monday, reaching $9.88. The company’s stock had a trading volume of 53,717 shares, compared to its average volume of 36,274. Western New England Bancorp has a 12-month low of $8.50 and a 12-month high of $11.25. The company has a market cap of $292.57 million, a P/E ratio of 17.64 and a beta of 0.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.05.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. Western New England Bancorp had a return on equity of 6.71% and a net margin of 18.60%. The firm had revenue of $17.06 million for the quarter, compared to the consensus estimate of $17.19 million. As a group, analysts predict that Western New England Bancorp will post 0.56 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Western New England Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,303,968 shares of the financial services provider’s stock worth $23,132,000 after purchasing an additional 59,945 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Western New England Bancorp by 346.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock worth $97,000 after buying an additional 7,494 shares in the last quarter. Bank of America Corp DE increased its position in Western New England Bancorp by 34.6% during the fourth quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock worth $269,000 after buying an additional 6,876 shares in the last quarter. Geode Capital Management LLC increased its position in Western New England Bancorp by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 277,552 shares of the financial services provider’s stock worth $2,786,000 after buying an additional 13,954 shares in the last quarter. Finally, Essex Financial Services Inc. purchased a new position in Western New England Bancorp during the fourth quarter worth $152,000. 54.93% of the stock is owned by hedge funds and other institutional investors.

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.

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

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