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

Key Points

• Wall Street Zen downgraded Western New England Bancorp from “hold” to “sell,” while other analysts have mostly issued neutral ratings. The consensus rating remains “Hold,” with an average price target of $15.50.
• WNEB shares opened at $13.86, compared with a 52-week range of $10.78 to $15.01 and a market capitalization of approximately $277.9 million.
• The company reported quarterly earnings of $0.18 per share, missing the $0.24 consensus estimate, although revenue of $27.11 million exceeded analyst expectations of $22.74 million.

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

A number of other equities research analysts have also issued reports on WNEB. Seaport Research Partners lowered Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 29th. Zacks Research lowered Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Piper Sandler upped their price target on Western New England Bancorp from $15.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Western New England Bancorp in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Western New England Bancorp has an average rating of "Hold" and an average target price of $15.50.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $13.86 on Friday. The firm has a fifty day moving average of $13.99 and a 200-day moving average of $13.60. Western New England Bancorp has a 52-week low of $10.78 and a 52-week high of $15.01. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $277.89 million, a P/E ratio of 16.50 and a beta of 0.76.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). The business had revenue of $27.11 million for the quarter, compared to analyst estimates of $22.74 million. Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. As a group, analysts predict that Western New England Bancorp will post 0.94 EPS for the current year.

Insider Activity at Western New England Bancorp

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total transaction of $49,385.60. Following the completion of the sale, the senior vice president owned 14,048 shares in the company, valued at $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.56% of the company's stock.

Institutional Trading of Western New England Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Western New England Bancorp in the 2nd quarter worth about $39,000. Sound Income Strategies LLC acquired a new position in Western New England Bancorp in the first quarter worth about $40,000. BNP Paribas Financial Markets increased its holdings in Western New England Bancorp by 95.7% in the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider's stock valued at $60,000 after buying an additional 2,446 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Western New England Bancorp by 51,300.0% in the second quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider's stock valued at $81,000 after buying an additional 8,721 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Western New England Bancorp during the second quarter valued at approximately $93,000. 67.95% of the stock is owned by institutional investors and hedge funds.

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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