Western New England Bancorp (NASDAQ:WNEB – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.
A number of other equities research analysts have also recently issued reports on WNEB. Piper Sandler boosted their price objective on Western New England Bancorp from $15.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Zacks Research lowered shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Finally, Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.50.
Check Out Our Latest Analysis on WNEB
Western New England Bancorp Stock Performance
Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $22.74 million. Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. On average, analysts expect that Western New England Bancorp will post 0.94 earnings per share for the current year.
Insider Activity
In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total transaction of $49,385.60. Following the sale, the senior vice president owned 14,048 shares of the company’s stock, valued at approximately $188,524.16. This represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.56% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its position in Western New England Bancorp by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 726 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Western New England Bancorp by 3.2% in the 1st quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock worth $792,000 after buying an additional 1,884 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Western New England Bancorp by 2.0% in the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock worth $1,420,000 after buying an additional 2,171 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Western New England Bancorp by 1.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock valued at $2,822,000 after buying an additional 2,171 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Western New England Bancorp by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock valued at $864,000 after buying an additional 2,405 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.
Western New England Bancorp Company Profile
Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.
The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.
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