Western New England Bancorp (NASDAQ:WNEB) Raised to Strong-Buy at Zacks Research

Western New England Bancorp (NASDAQ:WNEB) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western New England Bancorp in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Western New England Bancorp Trading Up 1.7%

Shares of Western New England Bancorp stock opened at $13.43 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. Western New England Bancorp has a 1 year low of $7.63 and a 1 year high of $13.95. The firm has a market cap of $275.18 million, a PE ratio of 17.67 and a beta of 0.83. The company has a 50 day simple moving average of $12.81 and a two-hundred day simple moving average of $12.01.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. Western New England Bancorp had a net margin of 11.64% and a return on equity of 6.36%. The firm had revenue of $22.01 million for the quarter, compared to analysts’ expectations of $18.62 million. Analysts expect that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Western New England Bancorp

Several institutional investors have recently bought and sold shares of WNEB. Russell Investments Group Ltd. bought a new position in shares of Western New England Bancorp in the second quarter worth approximately $39,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Western New England Bancorp during the 2nd quarter valued at $45,000. BNP Paribas Financial Markets grew its holdings in Western New England Bancorp by 95.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 2,446 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 8,721 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Western New England Bancorp during the second quarter valued at about $93,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

About Western New England Bancorp

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.