Zacks Investment Research Reaffirms Sell Rating for Western New England Bancorp (NASDAQ:WNEB)

Western New England Bancorp (NASDAQ:WNEB)‘s stock had its “sell” rating reiterated by Zacks Investment Research in a research report issued to clients and investors on Saturday, 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. “

Separately, BidaskClub cut shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.75.

Shares of Western New England Bancorp stock opened at $9.20 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.86. Western New England Bancorp has a fifty-two week low of $8.50 and a fifty-two week high of $11.25. The firm has a market capitalization of $247.97 million, a price-to-earnings ratio of 16.43 and a beta of 0.21.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $17.01 million. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. On average, equities research analysts expect that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

In related news, SVP William J. Wagner sold 57,372 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $9.90, for a total transaction of $567,982.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.22% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in WNEB. Dimensional Fund Advisors LP boosted its position in shares of Western New England Bancorp by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,303,968 shares of the financial services provider’s stock valued at $23,132,000 after acquiring an additional 59,945 shares during the period. First Trust Advisors LP acquired a new position in Western New England Bancorp during the fourth quarter worth about $310,000. Acadian Asset Management LLC raised its stake in Western New England Bancorp by 2,820.8% during the first quarter. Acadian Asset Management LLC now owns 29,617 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 28,603 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in Western New England Bancorp by 8.1% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 308,142 shares of the financial services provider’s stock worth $2,844,000 after acquiring an additional 23,077 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in Western New England Bancorp by 5.9% during the first quarter. Deprince Race & Zollo Inc. now owns 360,281 shares of the financial services provider’s stock worth $3,325,000 after acquiring an additional 20,094 shares in the last quarter. 52.60% 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 commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.

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