Western New England Bancorp (NASDAQ:WNEB) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

WNEB has been the topic of several other reports. Zacks Investment Research cut shares of Western New England Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods restated a “neutral” rating on shares of Western New England Bancorp in a report on Wednesday, April 26th. Piper Jaffray Companies restated a “buy” rating and set a $11.50 price target on shares of Western New England Bancorp in a report on Friday. Finally, TheStreet upgraded shares of Western New England Bancorp from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $11.67.

Shares of Western New England Bancorp (NASDAQ WNEB) traded up 1.01% on Tuesday, reaching $10.05. The company had a trading volume of 22,182 shares. The company has a 50 day moving average price of $10.29 and a 200 day moving average price of $10.13. The stock has a market capitalization of $312.25 million, a PE ratio of 32.42 and a beta of 0.41. Western New England Bancorp has a 52-week low of $7.41 and a 52-week high of $10.95.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by $0.01. Western New England Bancorp had a net margin of 15.93% and a return on equity of 5.74%. The company had revenue of $16.82 million for the quarter, compared to analysts’ expectations of $16.74 million. On average, equities research analysts anticipate that Western New England Bancorp will post $0.58 earnings per share for the current year.

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In related news, insider William J. Wagner sold 162,363 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.21, for a total value of $1,657,726.23. Following the completion of the sale, the insider now directly owns 341,900 shares in the company, valued at $3,490,799. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.

A number of large investors have recently modified their holdings of the company. 1st Global Advisors Inc. acquired a new stake in shares of Western New England Bancorp during the first quarter worth about $121,000. American International Group Inc. boosted its stake in shares of Western New England Bancorp by 49.6% in the first quarter. American International Group Inc. now owns 13,691 shares of the financial services provider’s stock worth $144,000 after buying an additional 4,540 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Western New England Bancorp by 32.5% in the first quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock worth $190,000 after buying an additional 4,428 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Western New England Bancorp during the first quarter worth about $201,000. Finally, 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 worth $202,000 after buying an additional 2,902 shares in the last quarter. Hedge funds and other institutional investors own 53.42% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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