Western New England Bancorp Inc (WNEB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Western New England Bancorp Inc (NASDAQ:WNEB) have been given an average rating of “Hold” by the eight brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.88.

A number of equities analysts have weighed in on WNEB shares. Sandler O’Neill started coverage on Western New England Bancorp in a research note on Tuesday, December 5th. They set a “buy” rating and a $13.00 price objective for the company. BidaskClub upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered Western New England Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Piper Jaffray Companies lowered Western New England Bancorp from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research note on Friday, November 3rd. Finally, Compass Point lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 18th.

Several institutional investors have recently made changes to their positions in the stock. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Western New England Bancorp by 26.9% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 220,081 shares of the financial services provider’s stock valued at $2,399,000 after purchasing an additional 46,708 shares in the last quarter. Royce & Associates LP increased its stake in Western New England Bancorp by 31.5% during the 3rd quarter. Royce & Associates LP now owns 354,454 shares of the financial services provider’s stock worth $3,864,000 after buying an additional 85,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Western New England Bancorp by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,994,548 shares of the financial services provider’s stock worth $21,741,000 after buying an additional 57,988 shares in the last quarter. Wells Fargo & Company MN increased its stake in Western New England Bancorp by 42.2% during the 3rd quarter. Wells Fargo & Company MN now owns 35,603 shares of the financial services provider’s stock worth $388,000 after buying an additional 10,557 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Western New England Bancorp during the 3rd quarter worth approximately $186,000. Hedge funds and other institutional investors own 56.72% of the company’s stock.

Shares of Western New England Bancorp (NASDAQ WNEB) remained flat at $$11.05 on Tuesday. The stock had a trading volume of 44,074 shares, compared to its average volume of 43,260. The company has a market cap of $344.38, a price-to-earnings ratio of 22.55 and a beta of 0.39. Western New England Bancorp has a 52-week low of $9.00 and a 52-week high of $11.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.42.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.13 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.13. Western New England Bancorp had a return on equity of 5.95% and a net margin of 18.20%. research analysts forecast that Western New England Bancorp will post 0.53 EPS for the current fiscal year.

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About Western New England Bancorp

Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.

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