Western New England Bancorp (WNEB) Downgraded by BidaskClub to “Hold”

Western New England Bancorp (NASDAQ:WNEB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Zacks Investment Research upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.88.

Shares of WNEB opened at $9.63 on Wednesday. Western New England Bancorp has a one year low of $9.55 and a one year high of $11.25. The stock has a market capitalization of $291.11 million, a PE ratio of 19.26 and a beta of 0.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.93.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. Western New England Bancorp had a net margin of 14.03% and a return on equity of 6.60%. The company had revenue of $16.90 million during the quarter, compared to the consensus estimate of $17.49 million. On average, research analysts forecast that Western New England Bancorp will post 0.56 earnings per share for the current fiscal year.

In related news, Director Philip R. Smith bought 4,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was bought at an average price of $10.29 per share, for a total transaction of $41,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.35% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new stake in shares of Western New England Bancorp during the 3rd quarter worth about $114,000. JPMorgan Chase & Co. lifted its stake in shares of Western New England Bancorp by 119.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock worth $129,000 after buying an additional 6,520 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in shares of Western New England Bancorp by 55.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock worth $226,000 after buying an additional 7,494 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Western New England Bancorp by 7.5% during the 2nd quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock worth $866,000 after buying an additional 5,510 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of 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 worth $5,409,000 after buying an additional 71,300 shares during the last quarter. Institutional investors own 55.40% 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: Yield Curve

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