Western New England Bancorp (WNEB) Earns “Hold” Rating from Zacks Investment Research

Zacks Investment Research reiterated their hold rating on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report sent to investors on Saturday. Zacks Investment Research currently has a $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. “

Several other brokerages also recently issued reports on WNEB. Compass Point downgraded Western New England Bancorp from a buy rating to a neutral rating in a research note on Wednesday, October 18th. Piper Jaffray Companies restated a hold rating and set a $11.50 price target on shares of Western New England Bancorp in a report on Tuesday, January 9th. BidaskClub upgraded Western New England Bancorp from a sell rating to a hold rating in a report on Thursday, December 7th. Keefe, Bruyette & Woods restated a hold rating and set a $11.00 price target on shares of Western New England Bancorp in a report on Tuesday, October 3rd. Finally, Sandler O’Neill initiated coverage on Western New England Bancorp in a report on Tuesday, December 5th. They set a buy rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $11.80.

Shares of Western New England Bancorp (NASDAQ:WNEB) opened at $11.05 on Friday. The stock has a market capitalization of $340.53, a P/E ratio of 22.55 and a beta of 0.39. Western New England Bancorp has a 12 month low of $9.00 and a 12 month high of $11.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dalton Greiner Hartman Maher & Co. grew its holdings in Western New England Bancorp by 26.9% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 220,081 shares of the financial services provider’s stock valued at $2,399,000 after buying an additional 46,708 shares in the last quarter. Royce & Associates LP grew its holdings in Western New England Bancorp by 31.5% during the 3rd quarter. Royce & Associates LP now owns 354,454 shares of the financial services provider’s stock valued at $3,864,000 after buying an additional 85,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Western New England Bancorp by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,994,548 shares of the financial services provider’s stock valued at $21,741,000 after buying an additional 57,988 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Western New England Bancorp by 42.2% during the 3rd quarter. Wells Fargo & Company MN now owns 35,603 shares of the financial services provider’s stock valued at $388,000 after buying an additional 10,557 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Western New England Bancorp during the 3rd quarter valued at approximately $186,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

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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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