Western New England Bancorp (WNEB) Lifted to “Buy” at BidaskClub

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

Several other brokerages also recently issued reports on WNEB. Zacks Investment Research downgraded shares of Western New England Bancorp from a hold rating to a sell rating in a report on Thursday, August 2nd. Sandler O’Neill downgraded shares of Western New England Bancorp from a buy rating to a hold rating and set a $12.00 price target for the company. in a report on Wednesday, July 25th. Finally, Compass Point raised shares of Western New England Bancorp from a neutral rating to a buy rating and lifted their price target for the company from $11.00 to $12.00 in a report on Thursday, June 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Western New England Bancorp has an average rating of Hold and a consensus price target of $11.88.

Shares of NASDAQ:WNEB traded down $0.19 during midday trading on Friday, reaching $10.14. 49,757 shares of the company’s stock were exchanged, compared to its average volume of 37,067. The company has a market capitalization of $321.26 million, a price-to-earnings ratio of 20.28 and a beta of 0.26. Western New England Bancorp has a 12 month low of $9.80 and a 12 month high of $11.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.04 and a current ratio of 1.04.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $18.80 million during the quarter, compared to the consensus estimate of $17.20 million. Western New England Bancorp had a net margin of 14.08% and a return on equity of 6.48%. Sell-side analysts forecast that Western New England Bancorp will post 0.59 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP lifted its holdings in Western New England Bancorp by 17.0% during the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock valued at $5,409,000 after purchasing an additional 71,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Western New England Bancorp by 4.1% during 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 purchasing an additional 84,320 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in Western New England Bancorp by 42.8% during 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 purchasing an additional 86,812 shares during the last quarter. Renaissance Technologies LLC increased its position 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 acquiring an additional 102,982 shares in the last quarter. Finally, California Public Employees Retirement System increased its position 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 acquiring an additional 5,510 shares in the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.

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