Western New England Bancorp (NASDAQ:WNEB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $12.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.29% from the company’s current price.

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. “

WNEB has been the subject of a number of other reports. Compass Point lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $11.50 target price on shares of Western New England Bancorp in a research report on Friday, July 28th. ValuEngine raised Western New England Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.00 target price on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.50.

Shares of Western New England Bancorp (NASDAQ:WNEB) traded up 0.95% during midday trading on Tuesday, reaching $10.60. The company had a trading volume of 9,165 shares. The firm’s 50 day moving average price is $10.74 and its 200-day moving average price is $10.31. Western New England Bancorp has a 1-year low of $7.60 and a 1-year high of $11.10. The stock has a market capitalization of $317.79 million, a price-to-earnings ratio of 24.48 and a beta of 0.42.

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Several large investors have recently made changes to their positions in WNEB. Nationwide Fund Advisors increased its holdings in shares of Western New England Bancorp by 32.5% in the 1st quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 4,428 shares during the period. First Trust Advisors LP purchased a new position in shares of Western New England Bancorp in the 1st quarter valued at $225,000. Bank of New York Mellon Corp increased its holdings in shares of Western New England Bancorp by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 161,219 shares of the financial services provider’s stock valued at $1,694,000 after acquiring an additional 5,980 shares during the period. American International Group Inc. increased its holdings in shares of Western New England Bancorp by 49.6% in the 1st quarter. American International Group Inc. now owns 13,691 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 4,540 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Western New England Bancorp by 24.0% in the 1st quarter. TIAA CREF Investment Management LLC now owns 55,057 shares of the financial services provider’s stock valued at $578,000 after acquiring an additional 10,660 shares during the period. Institutional investors and hedge funds own 55.83% 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.

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