Western New England Bancorp (WNEB) Lifted to Hold at BidaskClub

Western New England Bancorp (NASDAQ:WNEB) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

WNEB has been the topic of a number of other research reports. Piper Jaffray Companies downgraded 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 assumed coverage on Western New England Bancorp in a research report on Tuesday. They set a “buy” rating and a $13.00 price target on the stock. Zacks Investment Research downgraded Western New England Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. 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. Finally, Compass Point downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Western New England Bancorp presently has a consensus rating of “Hold” and a consensus price target of $11.60.

Shares of Western New England Bancorp (NASDAQ WNEB) opened at $10.90 on Thursday. Western New England Bancorp has a 12-month low of $8.35 and a 12-month high of $11.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $327.79, a PE ratio of 21.40 and a beta of 0.39.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. increased its holdings in Western New England Bancorp by 1.0% during 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 during the period. Wells Fargo & Company MN increased its holdings in Western New England Bancorp by 2.0% during the 2nd quarter. Wells Fargo & Company MN now owns 25,046 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 491 shares during the period. Nationwide Fund Advisors increased its holdings in Western New England Bancorp by 9.5% during the 2nd quarter. Nationwide Fund Advisors now owns 19,793 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,725 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Western New England Bancorp by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,189 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 1,873 shares during the period. Finally, Brandywine Global Investment Management LLC increased its holdings in Western New England Bancorp by 2.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 90,731 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 2,074 shares during the period. Hedge funds and other 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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