Western New England Bancorp (NASDAQ:WNEB) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• Western New England Bancorp's stock has received a rating of "Hold (C+)" from Weiss Ratings, indicating a cautious stance on the company's financial outlook.
• The company's recent quarterly earnings showed an EPS of $0.23, surpassing expectations, with revenue of $21.05 million compared to an estimate of $16.35 million.
• Shares of Western New England Bancorp fell 0.7% to $11.45, with a 52-week range between $7.63 and $12.80.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report)'s stock had its "hold (c+)" rating restated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded Western New England Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Piper Sandler boosted their price objective on Western New England Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Western New England Bancorp has an average rating of "Moderate Buy" and an average target price of $11.00.

Western New England Bancorp Stock Down 0.7%

Shares of NASDAQ:WNEB traded down $0.08 during mid-day trading on Wednesday, hitting $11.45. 37,305 shares of the company traded hands, compared to its average volume of 81,986. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.93. Western New England Bancorp has a 52-week low of $7.63 and a 52-week high of $12.80. The firm's 50 day simple moving average is $11.90 and its 200 day simple moving average is $10.22. The firm has a market cap of $234.51 million, a P/E ratio of 19.40 and a beta of 0.88.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.09. Western New England Bancorp had a return on equity of 5.07% and a net margin of 9.51%.The company had revenue of $21.05 million for the quarter, compared to the consensus estimate of $16.35 million. On average, equities analysts anticipate that Western New England Bancorp will post 0.6 EPS for the current year.

Insider Buying and Selling at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,600 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.39, for a total transaction of $44,604.00. Following the transaction, the senior vice president directly owned 16,044 shares of the company's stock, valued at approximately $198,785.16. The trade was a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip R. Smith sold 4,000 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $10.79, for a total value of $43,160.00. Following the completion of the transaction, the director directly owned 10,497 shares in the company, valued at approximately $113,262.63. The trade was a 27.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its holdings in shares of Western New England Bancorp by 3.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 221,950 shares of the financial services provider's stock valued at $2,049,000 after acquiring an additional 8,331 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Western New England Bancorp by 12.5% in the 2nd quarter. Bank of America Corp DE now owns 53,368 shares of the financial services provider's stock worth $493,000 after acquiring an additional 5,931 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Western New England Bancorp in the 2nd quarter worth approximately $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Western New England Bancorp in the 2nd quarter worth approximately $93,000. Finally, Marshall Wace LLP lifted its position in shares of Western New England Bancorp by 66.3% in the 2nd quarter. Marshall Wace LLP now owns 81,549 shares of the financial services provider's stock worth $753,000 after acquiring an additional 32,502 shares during the period. 67.95% of the stock is owned by institutional investors and hedge funds.

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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