Western New England Bancorp (WNEB) Upgraded to “Buy” by BidaskClub

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BidaskClub upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other brokerages have also commented on WNEB. Sandler O’Neill lowered shares of Western New England Bancorp from a buy rating to a hold rating and set a $12.00 price target on the stock. in a research note on Wednesday, July 25th. Compass Point upgraded shares of Western New England Bancorp from a neutral rating to a buy rating and increased their price target for the stock from $11.00 to $12.00 in a research note on Thursday, June 28th. Finally, Zacks Investment Research lowered shares of Western New England Bancorp from a hold rating to a sell rating in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $11.88.

Shares of WNEB traded down $0.19 during mid-day trading on Friday, hitting $10.14. 49,757 shares of the company’s stock were exchanged, compared to its average volume of 37,067. Western New England Bancorp has a twelve month low of $9.80 and a twelve month high of $11.25. The firm has a market cap of $321.26 million, a price-to-earnings ratio of 20.28 and a beta of 0.26. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.89.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Western New England Bancorp had a net margin of 14.08% and a return on equity of 6.48%. The company had revenue of $18.80 million for the quarter, compared to analyst estimates of $17.20 million. As a group, research analysts predict that Western New England Bancorp will post 0.59 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System grew its stake in Western New England Bancorp by 7.5% in 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 buying an additional 5,510 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in Western New England Bancorp by 42.8% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 289,534 shares of the financial services provider’s stock valued at $3,185,000 after buying an additional 86,812 shares during the last quarter. Royce & Associates LP grew its stake in Western New England Bancorp by 17.0% in the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock valued at $5,409,000 after buying an additional 71,300 shares during the last quarter. Renaissance Technologies LLC grew its stake in Western New England Bancorp by 7.0% in 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 buying an additional 102,982 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Western New England Bancorp by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,161,545 shares of the financial services provider’s stock valued at $23,020,000 after buying an additional 84,320 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

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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