Western New England Bancorp (NASDAQ:WNEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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. “

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Compass Point raised Western New England Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a research report on Thursday, June 28th. Finally, Sandler O’Neill downgraded Western New England Bancorp from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Wednesday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.88.

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

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

Several institutional investors and hedge funds have recently modified their holdings of WNEB. Dimensional Fund Advisors LP lifted its stake in shares of Western New England Bancorp by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,161,545 shares of the financial services provider’s stock worth $23,020,000 after purchasing an additional 84,320 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Western New England Bancorp by 42.8% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 289,534 shares of the financial services provider’s stock worth $3,185,000 after purchasing an additional 86,812 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Western New England Bancorp by 17.0% during the second quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after purchasing an additional 71,300 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Western New England Bancorp by 1.6% during the second quarter. BlackRock Inc. now owns 2,217,666 shares of the financial services provider’s stock worth $24,393,000 after purchasing an additional 35,747 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Western New England Bancorp by 7.0% during the second quarter. Renaissance Technologies LLC now owns 1,574,409 shares of the financial services provider’s stock worth $17,318,000 after purchasing an additional 102,982 shares in the last quarter. Institutional investors own 55.51% 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 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.

Featured Article: What are the reasons investors use put options?

Get a free copy of the Zacks research report on Western New England Bancorp (WNEB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Western New England Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western New England Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.