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

Western New England Bancorp (NASDAQ:WNEB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Sunday. The brokerage currently has a $12.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.11% from the company’s previous close.

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 several other reports. 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 target on the stock. BidaskClub upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Piper Jaffray Companies lowered 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. Compass Point lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $11.00 price target on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.80.

Western New England Bancorp (WNEB) opened at $11.10 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. Western New England Bancorp has a 12 month low of $9.00 and a 12 month high of $11.25. The stock has a market capitalization of $335.44, a P/E 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 the Thomson Reuters’ consensus estimate of $0.13. Western New England Bancorp had a return on equity of 5.95% and a net margin of 18.20%. sell-side analysts anticipate that Western New England Bancorp will post 0.53 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Western New England Bancorp in the second quarter worth $117,000. 1st Global Advisors Inc. boosted its holdings in Western New England Bancorp by 1.0% in the second quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 117 shares in the last quarter. Voya Investment Management LLC bought a new stake in Western New England Bancorp in the second quarter worth $119,000. SG Americas Securities LLC bought a new stake in Western New England Bancorp in the third quarter worth $186,000. Finally, Alliancebernstein L.P. bought a new stake in Western New England Bancorp in the second quarter worth $191,000. Institutional investors own 56.72% 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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