Western New England Bancorp (NASDAQ:WNEB) Stock Rating Upgraded by Wall Street Zen

Western New England Bancorp (NASDAQ:WNEB) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

WNEB has been the subject of a number of other reports. Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Finally, Piper Sandler raised their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Western New England Bancorp has an average rating of “Hold” and an average target price of $15.50.

Western New England Bancorp Price Performance

Shares of WNEB stock opened at $13.77 on Friday. Western New England Bancorp has a fifty-two week low of $10.78 and a fifty-two week high of $15.01. The firm has a market capitalization of $276.09 million, a PE ratio of 16.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50-day simple moving average is $13.92 and its 200-day simple moving average is $13.60.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $27.11 million for the quarter, compared to analyst estimates of $22.74 million. Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%. Equities analysts expect that Western New England Bancorp will post 0.94 earnings per share for the current year.

Insider Buying and Selling at Western New England Bancorp

In other news, Director Philip Smith sold 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total transaction of $45,804.00. Following the completion of the transaction, the director directly owned 5,800 shares of the company’s stock, valued at $80,504. This represents a 36.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 6.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Western New England Bancorp during the second quarter valued at $39,000. Sound Income Strategies LLC purchased a new stake in shares of Western New England Bancorp during the first quarter worth about $40,000. California State Teachers Retirement System raised its position in shares of Western New England Bancorp by 265.5% during the 2nd quarter. California State Teachers Retirement System now owns 3,589 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,607 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Western New England Bancorp by 95.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,446 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Western New England Bancorp by 51,300.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock valued at $81,000 after buying an additional 8,721 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.