Western New England Bancorp (NASDAQ:WNEB) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Western New England Bancorp (NASDAQ:WNEB – Get Rating) in a report released on Monday. The brokerage set a “buy” rating on the financial services provider’s stock.

Separately, Zacks Investment Research upgraded Western New England Bancorp from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research report on Friday, April 29th.

Shares of NASDAQ WNEB opened at $8.36 on Monday. The stock has a fifty day simple moving average of $8.58 and a two-hundred day simple moving average of $8.86. Western New England Bancorp has a 1-year low of $7.72 and a 1-year high of $9.98. The firm has a market cap of $189.29 million, a price-to-earnings ratio of 8.12 and a beta of 0.37. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.10.

Western New England Bancorp (NASDAQ:WNEB – Get Rating) last posted its earnings results on Tuesday, April 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Western New England Bancorp had a return on equity of 10.50% and a net margin of 25.34%. Analysts forecast that Western New England Bancorp will post 0.97 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG grew its stake in shares of Western New England Bancorp by 13.6% in the third quarter. UBS Group AG now owns 9,156 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 1,099 shares during the last quarter. Marshall Wace LLP bought a new stake in Western New England Bancorp during the 4th quarter valued at approximately $93,000. Jane Street Group LLC bought a new stake in Western New England Bancorp during the 1st quarter valued at approximately $139,000. Assenagon Asset Management S.A. bought a new stake in Western New England Bancorp during the 4th quarter valued at approximately $138,000. Finally, Trexquant Investment LP lifted its holdings in shares of Western New England Bancorp by 42.9% during the third quarter. Trexquant Investment LP now owns 19,483 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 5,853 shares during the last quarter. 52.43% of the stock is currently owned by institutional investors.

Western New England Bancorp Company Profile (Get Rating)

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, business and municipal savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyers trust accounts.

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