Western New England Bancorp (NASDAQ:WNEB) Given “Hold” Rating at Zacks Investment Research

Zacks Investment Research reissued their hold rating on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report report published 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. “

Several other research firms have also recently weighed in on WNEB. BidaskClub raised shares of Western New England Bancorp from a sell rating to a hold rating in a research note on Tuesday, April 30th. ValuEngine cut shares of Western New England Bancorp from a hold rating to a sell rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, two have assigned 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.

NASDAQ:WNEB opened at $9.34 on Friday. Western New England Bancorp has a 1-year low of $8.50 and a 1-year high of $11.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average price of $9.28. The company has a market capitalization of $251.74 million, a PE ratio of 16.10 and a beta of 0.21.

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

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its position in Western New England Bancorp by 525.1% during 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 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 purchasing an additional 7,494 shares during the period. SG Americas Securities LLC bought a new position in Western New England Bancorp during the first quarter worth $112,000. Bank of America Corp DE boosted its position in 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 purchasing an additional 6,876 shares during the period. Finally, Acadian Asset Management LLC boosted its position 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 purchasing an additional 28,603 shares during the period. 52.60% of the stock is owned by hedge funds and other 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.

See Also: Cost of equity and a company’s balance sheet

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