Western New England Bancorp (WNEB) Downgraded by BidaskClub

Western New England Bancorp (NASDAQ:WNEB) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

Other analysts also recently issued reports about the company. Sandler O’Neill initiated coverage on Western New England Bancorp in a report on Tuesday, December 5th. They set a “buy” rating and a $13.00 price objective for the company. 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 report on Tuesday, October 31st. Piper Jaffray Companies restated a “hold” rating and set a $11.50 price objective on shares of Western New England Bancorp in a report on Tuesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $11.00 price objective on shares of Western New England Bancorp in a report on Tuesday, October 3rd. Finally, Compass Point downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Western New England Bancorp currently has an average rating of “Hold” and a consensus price target of $11.80.

Western New England Bancorp (NASDAQ WNEB) traded up $0.05 during mid-day trading on Friday, hitting $10.95. The stock had a trading volume of 22,844 shares, compared to its average volume of 32,199. The firm has a market cap of $333.91, a P/E ratio of 22.35 and a beta of 0.39. 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 1-year low of $9.15 and a 1-year high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.13 EPS for the quarter, hitting 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 analysts forecast that Western New England Bancorp will post 0.5 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Western New England Bancorp in the 2nd quarter valued at $117,000. 1st Global Advisors Inc. increased its holdings in Western New England Bancorp by 1.0% in the 2nd quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 117 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Western New England Bancorp in the 2nd quarter valued at $119,000. SG Americas Securities LLC acquired a new stake in Western New England Bancorp in the 3rd quarter valued at $186,000. Finally, Alliancebernstein L.P. acquired a new stake in Western New England Bancorp in the 2nd quarter valued at $191,000. Hedge funds and other institutional investors own 56.88% of the company’s stock.

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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.

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