Westfield Financial Inc. (WFD) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Westfield Financial, Inc. is the holding company for Westfield Bank. “
A number of other brokerages have also recently weighed in on WFD. Keefe, Bruyette & Woods increased their target price on shares of Westfield Financial from $8.00 to $8.50 and gave the stock a market perform rating in a report on Thursday, July 28th. Macquarie cut shares of Westfield Financial from a neutral rating to an underperform rating in a report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $8.50.
Westfield Financial (NASDAQ:WFD) opened at 7.65 on Wednesday. The firm has a market cap of $132.63 million, a PE ratio of 24.76 and a beta of 0.48. The firm’s 50-day moving average is $7.61 and its 200-day moving average is $7.75. Westfield Financial has a 12 month low of $7.30 and a 12 month high of $8.85.
Westfield Financial (NASDAQ:WFD) last issued its earnings results on Wednesday, July 27th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.07. Westfield Financial had a return on equity of 4.29% and a net margin of 11.18%. Equities analysts expect that Westfield Financial will post $0.30 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. bought a new position in shares of Westfield Financial during the second quarter worth about $148,000. Zacks Investment Management bought a new position in shares of Westfield Financial during the second quarter worth about $209,000. Bridgeway Capital Management Inc. raised its position in shares of Westfield Financial by 12.4% in the second quarter. Bridgeway Capital Management Inc. now owns 245,150 shares of the company’s stock worth $1,888,000 after buying an additional 27,000 shares in the last quarter. State Street Corp raised its position in shares of Westfield Financial by 793.5% in the second quarter. State Street Corp now owns 137,071 shares of the company’s stock worth $1,056,000 after buying an additional 121,730 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in shares of Westfield Financial during the second quarter worth about $109,000. 54.59% of the stock is currently owned by institutional investors and hedge funds.
About Westfield Financial
Westfield Financial, Inc (Westfield Financial) serves as a holding company for Westfield Bank (the Bank). The Company operates through community banking segment. It focuses on residential real estate lending, as well as servicing commercial customers, including commercial and industrial lending and commercial deposit relationships.
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