Western New England Bancorp (WNEB) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Western New England Bancorp (NASDAQ:WNEB) from a sell rating to a hold rating in a research note released on Thursday morning.

Other research analysts also recently issued research reports about the stock. Sandler O’Neill started coverage on shares of Western New England Bancorp in a research report on Tuesday. They set a buy rating and a $13.00 price target for the company. Zacks Investment Research upgraded shares of Western New England Bancorp from a hold rating to a buy rating and set a $12.00 price target for the company in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods restated a hold rating and set a $11.00 price target on shares of Western New England Bancorp in a research report on Tuesday, October 3rd. Piper Jaffray Companies downgraded shares of Western New England Bancorp from an overweight rating to a neutral rating and set a $10.50 price target for the company. in a research report on Friday, November 3rd. Finally, Compass Point downgraded shares of Western New England Bancorp from a buy rating to a neutral rating in a research report on Wednesday, October 18th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Western New England Bancorp has a consensus rating of Hold and an average price target of $11.60.

Western New England Bancorp (WNEB) traded down $0.20 on Thursday, hitting $10.75. 93,718 shares of the company traded hands, compared to its average volume of 75,992. Western New England Bancorp has a 52-week low of $8.35 and a 52-week high of $11.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $332.82, a P/E ratio of 21.80 and a beta of 0.39.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Sunday, October 8th were issued a $0.03 dividend. The ex-dividend date was Thursday, October 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.12%. Western New England Bancorp’s payout ratio is 24.49%.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Western New England Bancorp by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,994,548 shares of the financial services provider’s stock valued at $21,741,000 after acquiring an additional 57,988 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Western New England Bancorp by 8.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,374,409 shares of the financial services provider’s stock valued at $13,950,000 after acquiring an additional 109,500 shares during the last quarter. Vanguard Group Inc. raised its holdings in Western New England Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 988,528 shares of the financial services provider’s stock valued at $10,379,000 after acquiring an additional 5,622 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Western New England Bancorp by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 646,439 shares of the financial services provider’s stock valued at $6,560,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in Western New England Bancorp by 129.4% in the 2nd 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 during the last quarter. Institutional investors own 56.72% of the company’s stock.

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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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