Western New England Bancorp Inc (NASDAQ:WNEB) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued to investors on Wednesday.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods restated a “neutral” rating on shares of Western New England Bancorp in a research report on Wednesday, April 26th. Compass Point upgraded Western New England Bancorp from a “neutral” rating to a “buy” rating and set a $11.50 price objective for the company in a research report on Tuesday, February 28th. Piper Jaffray Companies boosted their price objective on Western New England Bancorp from $10.50 to $11.50 and gave the company an “overweight” rating in a research report on Tuesday, February 7th. Finally, Zacks Investment Research upgraded Western New England Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Thursday, May 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Western New England Bancorp presently has a consensus rating of “Buy” and an average target price of $11.67.

Shares of Western New England Bancorp (NASDAQ:WNEB) traded down 0.743% during mid-day trading on Wednesday, hitting $10.025. The company had a trading volume of 28,416 shares. The stock has a market cap of $296.71 million, a price-to-earnings ratio of 28.974 and a beta of 0.43. Western New England Bancorp has a 52-week low of $7.35 and a 52-week high of $10.75. The stock’s 50-day moving average is $10.31 and its 200-day moving average is $9.54.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $16.53 million during the quarter. Western New England Bancorp had a return on equity of 5.28% and a net margin of 8.86%. Equities analysts forecast that Western New England Bancorp will post $0.59 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, May 8th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

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In related news, Director Paul C. Picknelly sold 15,558 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $10.65, for a total transaction of $165,692.70. Following the completion of the sale, the director now directly owns 86,659 shares in the company, valued at $922,918.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Wagner sold 77,525 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $9.68, for a total value of $750,442.00. Following the sale, the insider now owns 250,980 shares of the company’s stock, valued at $2,429,486.40. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of WNEB. Goldman Sachs Group Inc. boosted its stake in shares of Western New England Bancorp by 15.7% in the first quarter. Goldman Sachs Group Inc. now owns 75,969 shares of the financial services provider’s stock valued at $798,000 after buying an additional 10,334 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Western New England Bancorp by 17.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,248 shares of the financial services provider’s stock valued at $202,000 after buying an additional 2,902 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Western New England Bancorp by 104.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,100 shares of the financial services provider’s stock valued at $411,000 after buying an additional 20,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Western New England Bancorp by 7.8% in the first quarter. Renaissance Technologies LLC now owns 1,264,909 shares of the financial services provider’s stock valued at $13,282,000 after buying an additional 91,679 shares during the last quarter. Finally, RMB Capital Management LLC purchased a new stake in shares of Western New England Bancorp during the first quarter valued at approximately $6,532,000. Hedge funds and other institutional investors own 37.36% of the company’s stock.

Western New England Bancorp Company Profile

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.

5 Day Chart for NASDAQ:WNEB

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