Western New England Bancorp (WNEB) Downgraded by Compass Point to “Neutral”

Compass Point lowered shares of Western New England Bancorp (NASDAQ:WNEB) from a buy rating to a neutral rating in a research report sent to investors on Wednesday.

A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Western New England Bancorp from a buy rating to a hold rating in a research note on Wednesday, July 5th. ValuEngine raised Western New England Bancorp from a hold rating to a buy rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reissued a buy rating and issued a $11.50 price target on shares of Western New England Bancorp in a research note on Friday, July 28th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $11.00 price target on shares of Western New England Bancorp in a research note on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Western New England Bancorp has an average rating of Hold and an average target price of $11.33.

Western New England Bancorp (WNEB) traded up 1.88% during mid-day trading on Wednesday, reaching $10.85. The company had a trading volume of 30,169 shares. The firm has a market capitalization of $325.28 million, a P/E ratio of 25.06 and a beta of 0.42. Western New England Bancorp has a one year low of $7.45 and a one year high of $11.10. The firm’s 50-day moving average is $10.60 and its 200-day moving average is $10.27.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The company had revenue of $16.82 million during the quarter, compared to analyst estimates of $16.74 million. Western New England Bancorp had a return on equity of 5.47% and a net margin of 15.93%. On average, equities research analysts anticipate that Western New England Bancorp will post $0.58 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Western New England Bancorp during the second quarter valued at approximately $636,000. Federated Investors Inc. PA increased its holdings in shares of Western New England Bancorp by 161.7% during the second quarter. Federated Investors Inc. PA now owns 122,537 shares of the financial services provider’s stock valued at $1,244,000 after acquiring an additional 75,718 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Western New England Bancorp by 223.9% during the second quarter. First Trust Advisors LP now owns 69,360 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 47,949 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Western New England Bancorp by 46.0% during the second quarter. Rhumbline Advisers now owns 36,620 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 11,545 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of Western New England Bancorp by 129.4% during the second quarter. Deprince Race & Zollo Inc. now owns 545,058 shares of the financial services provider’s stock valued at $5,532,000 after acquiring an additional 307,414 shares in the last quarter. Hedge funds and other institutional investors own 56.02% of the company’s stock.

About Western New England Bancorp

Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.

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