Western New England Bancorp (NASDAQ:WNEB) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Western New England Bancorp from “sell” to “hold.” The broader analyst consensus is also “Hold,” with a target price of $15.50.
• WNEB shares opened at $13.77, up 0.7%, with a market capitalization of approximately $276 million. The company reported quarterly EPS of $0.18, below the $0.24 consensus estimate, while revenue of $27.11 million exceeded expectations.
• Institutional investors own nearly 68% of the company, while an insider recently sold 3,300 shares worth about $45,804, reducing his position by 36.26%.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

WNEB has been the topic of several other reports. Piper Sandler upped their price target on Western New England Bancorp from $15.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Seaport Research Partners lowered Western New England Bancorp from a "buy" rating to a "neutral" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Western New England Bancorp in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $15.50.

Western New England Bancorp Stock Up 0.7%

Shares of NASDAQ:WNEB opened at $13.77 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $276.09 million, a PE ratio of 16.39 and a beta of 0.77. Western New England Bancorp has a 52 week low of $10.78 and a 52 week high of $15.01. The firm has a 50 day simple moving average of $13.92 and a 200 day simple moving average of $13.60.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its quarterly earnings data 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). Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%.The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. As a group, research analysts expect that Western New England Bancorp will post 0.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Philip Smith sold 3,300 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total value of $45,804.00. Following the completion of the sale, the director directly owned 5,800 shares in the company, valued at approximately $80,504. The trade was a 36.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.56% of the company's stock.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Western New England Bancorp in the second quarter worth $39,000. Sound Income Strategies LLC acquired a new position in Western New England Bancorp in the 1st quarter valued at $40,000. California State Teachers Retirement System raised its holdings in Western New England Bancorp by 265.5% in the 2nd quarter. California State Teachers Retirement System now owns 3,589 shares of the financial services provider's stock worth $51,000 after acquiring an additional 2,607 shares during the period. BNP Paribas Financial Markets raised its holdings in Western New England Bancorp by 95.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider's stock worth $60,000 after acquiring an additional 2,446 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Western New England Bancorp by 51,300.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider's stock worth $81,000 after acquiring an additional 8,721 shares during the last quarter. Institutional investors own 67.95% of the company's stock.

About Western New England Bancorp

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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