Western New England Bancorp (WNEB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a research report report published on Saturday 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. “

Separately, BidaskClub raised shares of Western New England Bancorp from a hold rating to a buy rating in a research note on Friday, October 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $11.88.

WNEB stock opened at $9.63 on Friday. The stock has a market cap of $291.11 million, a PE ratio of 19.26 and a beta of 0.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 1.05. Western New England Bancorp has a 52 week low of $9.55 and a 52 week high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $0.14 EPS for the quarter, hitting 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 business had revenue of $16.90 million during the quarter, compared to analysts’ expectations of $17.49 million. As a group, equities analysts anticipate that Western New England Bancorp will post 0.56 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, November 6th. This represents a $0.16 annualized dividend and a yield of 1.66%. Western New England Bancorp’s dividend payout ratio is presently 32.00%.

In other Western New England Bancorp news, Director Philip R. Smith acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average price of $10.29 per share, with a total value of $41,160.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.35% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP grew 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 acquiring an additional 71,300 shares in the last quarter. California Public Employees Retirement System grew its stake in 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 valued at $866,000 after acquiring an additional 5,510 shares in the last quarter. BlackRock Inc. grew its stake in Western New England Bancorp by 1.6% during the 2nd quarter. BlackRock Inc. now owns 2,217,666 shares of the financial services provider’s stock valued at $24,393,000 after acquiring an additional 35,747 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Western New England Bancorp by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,196,685 shares of the financial services provider’s stock valued at $24,163,000 after acquiring an additional 35,140 shares in the last quarter. Finally, Renaissance Technologies LLC grew 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 acquiring an additional 102,982 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

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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