Zacks Investment Research upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a research note released 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. “

Several other equities analysts have also recently issued reports on WNEB. Sandler O’Neill cut Western New England Bancorp from a buy rating to a hold rating and set a $12.00 price target on the stock. in a research report on Wednesday, July 25th. BidaskClub cut Western New England Bancorp from a hold rating to a sell rating in a research report on Friday, August 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $11.88.

Shares of WNEB stock opened at $9.81 on Friday. Western New England Bancorp has a 1 year low of $9.55 and a 1 year high of $11.25. The firm has a market cap of $286.71 million, a PE ratio of 19.62 and a beta of 0.35. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.05.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Western New England Bancorp had a return on equity of 6.60% and a net margin of 14.03%. The company had revenue of $16.90 million for the quarter, compared to analysts’ expectations of $17.49 million. As a group, research analysts expect that Western New England Bancorp will post 0.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, November 6th. Western New England Bancorp’s dividend payout ratio is presently 32.00%.

In related news, Director Philip R. Smith acquired 4,000 shares of Western New England Bancorp stock in a transaction dated Monday, October 29th. The stock was acquired at an average cost of $10.29 per share, with a total value of $41,160.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.35% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in shares of Western New England Bancorp during the 3rd quarter worth $114,000. JPMorgan Chase & Co. boosted its stake in shares of Western New England Bancorp by 119.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 6,520 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Western New England Bancorp by 55.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 7,494 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Western New England Bancorp by 7.5% in the second quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock worth $866,000 after buying an additional 5,510 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Western New England Bancorp by 1.7% in the third quarter. Royce & Associates LP now owns 500,154 shares of the financial services provider’s stock worth $5,402,000 after buying an additional 8,400 shares during the period. 55.63% of the stock is owned by institutional investors and hedge funds.

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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