Western New England Bancorp (WNEB) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a buy rating in a report published on Sunday. The brokerage currently has $12.00 price target on the financial services provider’s stock.

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. “

A number of other equities analysts have also recently weighed in on WNEB. Piper Jaffray Companies reaffirmed a hold rating and issued a $11.50 price target on shares of Western New England Bancorp in a report on Tuesday, January 9th. BidaskClub cut Western New England Bancorp from a hold rating to a sell rating in a report on Saturday, January 6th. Compass Point cut Western New England Bancorp from a buy rating to a neutral rating in a report on Wednesday, October 18th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $11.00 price target on shares of Western New England Bancorp in a report on Tuesday, October 3rd. Finally, Sandler O’Neill assumed coverage on Western New England Bancorp in a report on Tuesday, December 5th. They issued a buy rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Western New England Bancorp presently has a consensus rating of Hold and an average price target of $11.80.

Western New England Bancorp (NASDAQ WNEB) opened at $10.80 on Friday. The firm has a market capitalization of $338.51, a PE ratio of 22.04 and a beta of 0.39. Western New England Bancorp has a fifty-two week low of $9.15 and a fifty-two week high of $11.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.42.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Western New England Bancorp had a return on equity of 5.95% and a net margin of 18.20%. analysts forecast that Western New England Bancorp will post 0.53 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Western New England Bancorp during the second quarter valued at approximately $117,000. 1st Global Advisors Inc. raised its holdings 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 acquiring an additional 117 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Western New England Bancorp during the second quarter valued at approximately $119,000. SG Americas Securities LLC acquired a new position in shares of Western New England Bancorp during the third quarter valued at approximately $186,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Western New England Bancorp during the second quarter valued at approximately $191,000. 56.88% of the stock is owned by institutional investors and hedge funds.

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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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