Piper Jaffray Companies downgraded shares of Western New England Bancorp (NASDAQ:WNEB) from an overweight rating to a neutral rating in a research note released on Friday, November 3rd, MarketBeat.com reports. The brokerage currently has $10.50 price objective on the financial services provider’s stock.
A number of other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Western New England Bancorp from a hold rating to a buy rating and set a $12.00 price objective on the stock in a report on Tuesday, October 31st. Compass Point lowered shares of Western New England Bancorp from a buy rating to a neutral rating in a report on Wednesday, October 18th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $11.00 price target on shares of Western New England Bancorp in a research note on Tuesday, October 3rd. Finally, ValuEngine lowered shares of Western New England Bancorp from a buy rating to a hold rating in a research note on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average target price of $11.25.
Western New England Bancorp (WNEB) opened at $10.20 on Friday. Western New England Bancorp has a 52 week low of $8.10 and a 52 week high of $11.10. The stock has a market cap of $312.47, a P/E ratio of 20.40 and a beta of 0.39. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Sunday, October 8th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, October 5th. Western New England Bancorp’s dividend payout ratio is currently 24.49%.
Large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Western New England Bancorp in the 2nd quarter valued at approximately $117,000. 1st Global Advisors Inc. increased its position in Western New England Bancorp by 1.0% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 117 shares in the last quarter. Voya Investment Management LLC acquired a new position in Western New England Bancorp during the 2nd quarter worth approximately $119,000. American International Group Inc. increased its position in Western New England Bancorp by 49.6% during the 1st quarter. American International Group Inc. now owns 13,691 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 4,540 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Western New England Bancorp during the 3rd quarter worth approximately $186,000. Institutional investors own 56.55% of the company’s stock.
About Western New England Bancorp
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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