Western New England Bancorp (WNEB) Upgraded by Zacks Investment Research to Buy

Western New England Bancorp (NASDAQ:WNEB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday. The firm presently has a $12.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 8.11% from the stock’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. Piper Jaffray Companies cut Western New England Bancorp from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a research note on Friday, November 3rd. BidaskClub cut Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, December 16th. Sandler O’Neill started coverage on Western New England Bancorp in a research report on Tuesday, December 5th. They set a “buy” rating and a $13.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.00 price objective on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. Finally, Compass Point cut 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, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.80.

Western New England Bancorp (WNEB) opened at $11.10 on Friday. Western New England Bancorp has a 52 week low of $9.00 and a 52 week high of $11.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $335.44, a PE ratio of 22.65 and a beta of 0.39.

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

Hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Western New England Bancorp during the second quarter worth about $117,000. 1st Global Advisors Inc. boosted its position in shares of Western New England Bancorp by 1.0% during the second quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock worth $118,000 after buying an additional 117 shares during the period. Voya Investment Management LLC acquired a new position in shares of Western New England Bancorp during the second quarter worth about $119,000. SG Americas Securities LLC acquired a new position in shares of Western New England Bancorp during the third quarter worth about $186,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Western New England Bancorp during the second quarter worth about $191,000. 56.72% of the stock is owned by institutional investors.

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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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