Western New England Bancorp (WNEB) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Western New England Bancorp (NASDAQ:WNEB) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

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. “

A number of other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Western New England Bancorp from a sell rating to a hold rating in a research report on Wednesday, February 13th. ValuEngine raised shares of Western New England Bancorp from a sell rating to a hold rating in a research report on Monday, February 4th. Sandler O’Neill raised shares of Western New England Bancorp from a hold rating to a buy rating and set a $11.00 price objective for the company in a research report on Thursday, December 20th. Finally, Compass Point raised shares of Western New England Bancorp from a neutral rating to a buy rating and boosted their price objective for the company from $10.00 to $10.50 in a research report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $10.75.

Shares of Western New England Bancorp stock opened at $9.64 on Thursday. The stock has a market capitalization of $260.32 million, a PE ratio of 17.21 and a beta of 0.16. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. Western New England Bancorp has a 1 year low of $8.50 and a 1 year high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, January 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $17.06 million for the quarter, compared to analyst estimates of $17.19 million. Western New England Bancorp had a net margin of 18.60% and a return on equity of 6.75%. Sell-side analysts forecast that Western New England Bancorp will post 0.56 earnings per share for the current year.

In other Western New England Bancorp news, SVP William J. Wagner sold 57,372 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $9.90, for a total value of $567,982.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Darlene M. Libiszewski sold 3,275 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $9.93, for a total transaction of $32,520.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,422 shares of company stock valued at $668,059. Insiders own 5.22% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY grew its position in Western New England Bancorp by 346.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 7,494 shares during the last quarter. Citadel Advisors LLC bought a new position in Western New England Bancorp in the 3rd quarter worth about $114,000. JPMorgan Chase & Co. grew its position in Western New England Bancorp by 119.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 6,520 shares during the last quarter. Essex Financial Services Inc. bought a new position in Western New England Bancorp in the 4th quarter worth about $152,000. Finally, MetLife Investment Advisors LLC grew its position in Western New England Bancorp by 55.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 7,494 shares during the last quarter. Hedge funds and other institutional investors own 58.37% 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.

See Also: Ex-Dividend

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