Western New England Bancorp (NASDAQ:WNEB) Downgraded by ValuEngine

ValuEngine cut shares of Western New England Bancorp (NASDAQ:WNEB) from a hold rating to a sell rating in a report released on Tuesday, ValuEngine reports.

A number of other brokerages have also weighed in on WNEB. Piper Sandler decreased their target price on shares of Western New England Bancorp from $7.50 to $7.00 and set an overweight rating for the company in a research note on Monday, September 28th. Zacks Investment Research upgraded shares of Western New England Bancorp from a sell rating to a hold rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Western New England Bancorp presently has an average rating of Hold and a consensus target price of $8.75.

WNEB stock opened at $5.73 on Tuesday. The stock has a market capitalization of $146.94 million, a PE ratio of 13.98 and a beta of 0.22. Western New England Bancorp has a 12-month low of $4.45 and a 12-month high of $10.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $6.18 and its 200 day simple moving average is $5.61.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Saturday, October 31st. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. Western New England Bancorp had a net margin of 11.68% and a return on equity of 4.67%. On average, research analysts predict that Western New England Bancorp will post 0.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.20 annualized dividend and a dividend yield of 3.49%. Western New England Bancorp’s dividend payout ratio (DPR) is 39.22%.

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Western New England Bancorp by 148.2% in the 2nd quarter. Bank of America Corp DE now owns 40,278 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 24,051 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Western New England Bancorp by 389.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 59,269 shares of the financial services provider’s stock worth $343,000 after buying an additional 47,151 shares in the last quarter. BHZ Capital Management LP increased its stake in Western New England Bancorp by 4.7% in the 2nd quarter. BHZ Capital Management LP now owns 110,725 shares of the financial services provider’s stock worth $641,000 after buying an additional 4,972 shares in the last quarter. Seizert Capital Partners LLC increased its stake in Western New England Bancorp by 6.6% in the 2nd quarter. Seizert Capital Partners LLC now owns 31,640 shares of the financial services provider’s stock worth $183,000 after buying an additional 1,952 shares in the last quarter. Finally, WINTON GROUP Ltd increased its stake in Western New England Bancorp by 111.6% in the 2nd quarter. WINTON GROUP Ltd now owns 60,824 shares of the financial services provider’s stock worth $352,000 after buying an additional 32,077 shares in the last quarter. Hedge funds and other institutional investors own 52.80% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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