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

Key Points

• Western New England Bancorp has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the company.
• Piper Sandler increased the target price for WNEB shares from $10.00 to $11.00 while maintaining a "neutral" rating.
• In the latest earnings report, the company surpassed analyst expectations with $0.23 earnings per share, exceeding the estimate of $0.14.

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

Separately, Piper Sandler lifted their price target on shares of Western New England Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd.

Western New England Bancorp Trading Down 2.3%

Shares of WNEB traded down $0.26 during midday trading on Friday, hitting $11.05. The stock had a trading volume of 78,178 shares, compared to its average volume of 89,872. Western New England Bancorp has a fifty-two week low of $7.38 and a fifty-two week high of $11.68. The business has a 50-day simple moving average of $9.61 and a two-hundred day simple moving average of $9.30. The firm has a market cap of $228.85 million, a P/E ratio of 18.73 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.

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

Institutional Trading of Western New England Bancorp

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its stake in shares of Western New England Bancorp by 483.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider's stock valued at $67,000 after buying an additional 6,060 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Western New England Bancorp during the 4th quarter valued at $108,000. Janney Montgomery Scott LLC lifted its holdings in Western New England Bancorp by 28.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,180 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 3,100 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Western New England Bancorp during the 1st quarter valued at $142,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Western New England Bancorp during the 2nd quarter valued at $161,000. 67.95% of the stock is owned by institutional investors.

About Western New England Bancorp

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.