Zacks Investment Research Reaffirms Hold Rating for Western New England Bancorp (WNEB)

Western New England Bancorp (NASDAQ:WNEB)‘s stock had its “hold” rating reissued by Zacks Investment Research in a research report issued to clients and investors on Saturday.

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 topic of a number of other research reports. BidaskClub downgraded shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $11.00 price target on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. Piper Jaffray Companies downgraded shares of Western New England Bancorp from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research report on Friday, November 3rd. Sandler O’Neill initiated coverage on shares of Western New England Bancorp in a research report on Tuesday, December 5th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Compass Point downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.60.

Western New England Bancorp (WNEB) traded down $0.15 during trading hours on Friday, reaching $10.80. 33,972 shares of the company traded hands, compared to its average volume of 48,120. 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 has a twelve month low of $9.00 and a twelve month high of $11.10. The firm has a market cap of $335.44, a P/E ratio of 22.04 and a beta of 0.39.

Hedge funds and other institutional investors have recently modified their holdings of the company. RMB Capital Management LLC acquired a new position in shares of Western New England Bancorp in the 1st quarter worth approximately $6,532,000. EJF Capital LLC lifted its position in shares of Western New England Bancorp by 35.1% during the 4th quarter. EJF Capital LLC now owns 1,584,767 shares of the financial services provider’s stock valued at $13,312,000 after acquiring an additional 412,160 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Western New England Bancorp during the 2nd quarter valued at $636,000. Bank of New York Mellon Corp lifted its position in shares of Western New England Bancorp by 44.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 91,005 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 27,927 shares during the period. Finally, Federated Investors Inc. PA lifted its position in shares of Western New England Bancorp by 161.7% during the 2nd quarter. Federated Investors Inc. PA now owns 122,537 shares of the financial services provider’s stock valued at $1,244,000 after acquiring an additional 75,718 shares during the period. Hedge funds and other institutional investors own 56.72% of the company’s stock.

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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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