Western New England Bancorp (NASDAQ:WNEB) Rating Increased to Hold at Wall Street Zen

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

Separately, Piper Sandler boosted their target price on shares of Western New England Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Wednesday.

Western New England Bancorp Trading Down 0.4%

Shares of WNEB stock opened at $11.32 on Friday. The firm has a 50 day moving average price of $9.54 and a two-hundred day moving average price of $9.26. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $234.44 million, a PE ratio of 19.19 and a beta of 0.75. Western New England Bancorp has a 12-month low of $7.38 and a 12-month high of $11.68.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.09. The company had revenue of $21.05 million for the quarter, compared to analyst estimates of $16.35 million. Western New England Bancorp had a return on equity of 5.08% and a net margin of 9.51%. As a group, analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Western New England Bancorp

Institutional investors have recently made changes to their positions in the stock. ST Germain D J Co. Inc. increased its stake in Western New England Bancorp by 40.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 27,648 shares of the financial services provider's stock worth $255,000 after acquiring an additional 7,977 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Western New England Bancorp during the 2nd quarter worth $161,000. Goldman Sachs Group Inc. increased its position in shares of Western New England Bancorp by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider's stock worth $856,000 after purchasing an additional 24,597 shares during the period. Jane Street Group LLC raised its stake in Western New England Bancorp by 190.1% in the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider's stock valued at $750,000 after purchasing an additional 52,858 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Western New England Bancorp by 7.0% during the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider's stock worth $832,000 after purchasing an additional 5,883 shares during the period. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.

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