Western New England Bancorp (NASDAQ:WNEB) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a sell rating in a report published on Monday morning, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Western New England Bancorp from a sell rating to a hold rating in a research report on Wednesday, June 5th. BidaskClub upgraded shares of Western New England Bancorp from a sell rating to a hold rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $10.75.

WNEB opened at $8.72 on Monday. The company has a market capitalization of $236.89 million, a price-to-earnings ratio of 15.57 and a beta of 0.21. Western New England Bancorp has a 1-year low of $8.50 and a 1-year high of $11.25. The stock has a 50 day moving average price of $9.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.86.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. The business had revenue of $16.50 million during the quarter, compared to analyst estimates of $17.01 million. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. Equities research analysts expect that Western New England Bancorp will post 0.52 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its position in shares of Western New England Bancorp by 525.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,407 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 4,542 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Western New England Bancorp by 346.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 7,494 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Western New England Bancorp during the first quarter worth $112,000. Bank of America Corp DE boosted its position in shares of Western New England Bancorp by 34.6% during the fourth quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 6,876 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 52.60% 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 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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