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

Western New England Bancorp (NASDAQ:WNEB)‘s stock had its “hold” rating reaffirmed by Zacks Investment Research in a research note issued on Saturday. They presently have a $12.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.60% 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. “

A number of other research analysts also recently issued reports on WNEB. BidaskClub downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Piper Jaffray Companies reissued a “hold” rating and issued a $11.50 price objective on shares of Western New England Bancorp in a research note on Tuesday. Compass Point downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $11.00 price objective on shares of Western New England Bancorp in a research note on Tuesday, October 3rd. Finally, Sandler O’Neill started coverage on Western New England Bancorp in a research report on Tuesday, December 5th. They issued a “buy” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $11.80.

Shares of Western New England Bancorp (NASDAQ WNEB) traded up $0.05 during trading hours on Friday, hitting $11.05. The stock had a trading volume of 37,304 shares, compared to its average volume of 62,751. The firm has a market cap of $340.53, a P/E ratio of 22.55 and a beta of 0.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.96. Western New England Bancorp has a 12 month low of $9.00 and a 12 month high of $11.10.

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in Western New England Bancorp in the 2nd quarter valued at about $636,000. Royce & Associates LP increased its position in Western New England Bancorp by 31.5% in the 3rd quarter. Royce & Associates LP now owns 354,454 shares of the financial services provider’s stock valued at $3,864,000 after buying an additional 85,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in Western New England Bancorp by 9.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 176,064 shares of the financial services provider’s stock valued at $1,787,000 after buying an additional 14,845 shares in the last quarter. Teachers Advisors LLC increased its position in Western New England Bancorp by 38.6% in the 2nd quarter. Teachers Advisors LLC now owns 48,650 shares of the financial services provider’s stock valued at $494,000 after buying an additional 13,551 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Western New England Bancorp by 46.0% in the 2nd quarter. Rhumbline Advisers now owns 36,620 shares of the financial services provider’s stock valued at $372,000 after buying an additional 11,545 shares in the last quarter. 56.72% of the stock is owned by institutional investors and hedge funds.

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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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