DA Davidson initiated coverage on shares of Western New England Bancorp (NASDAQ:WNEB) in a report published on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $10.00 price target on the financial services provider’s stock.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of YRC Worldwide from a buy rating to a hold rating in a research note on Tuesday, April 30th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research reaffirmed a hold rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $10.50.
WNEB stock opened at $9.37 on Thursday. The stock’s 50-day moving average is $9.25. The company has a market cap of $252.55 million, a P/E ratio of 16.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.03 and a quick ratio of 1.03. Western New England Bancorp has a 52 week low of $8.50 and a 52 week high of $11.25.
Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $17.01 million. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. As a group, sell-side analysts anticipate that Western New England Bancorp will post 0.52 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in WNEB. Rhumbline Advisers boosted its holdings in Western New England Bancorp by 35.7% in the 4th quarter. Rhumbline Advisers now owns 42,482 shares of the financial services provider’s stock worth $427,000 after buying an additional 11,187 shares during the last quarter. First Trust Advisors LP purchased a new position in Western New England Bancorp in the 4th quarter worth approximately $310,000. Dimensional Fund Advisors LP lifted its stake in Western New England Bancorp by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,303,968 shares of the financial services provider’s stock worth $23,132,000 after purchasing an additional 59,945 shares in the last quarter. Geode Capital Management LLC lifted its stake in Western New England Bancorp by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 277,552 shares of the financial services provider’s stock worth $2,786,000 after purchasing an additional 13,954 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Western New England Bancorp by 34.6% in the 4th quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 6,876 shares in the last quarter. 52.60% 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 commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.
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