Western New England Bancorp (NASDAQ:WNEB) Now Covered by StockNews.com

Research analysts at StockNews.com started coverage on shares of Western New England Bancorp (NASDAQ:WNEB – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the financial services provider’s stock.

Separately, Piper Sandler downgraded shares of Western New England Bancorp from an “overweight” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Tuesday, November 22nd.

Western New England Bancorp Stock Up 0.5 %

WNEB stock opened at $8.89 on Thursday. The firm’s fifty day simple moving average is $9.72 and its 200-day simple moving average is $9.19. The company has a market capitalization of $197.18 million, a P/E ratio of 7.47 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. Western New England Bancorp has a 12 month low of $7.13 and a 12 month high of $10.25.

Western New England Bancorp (NASDAQ:WNEB – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. The business had revenue of $26.51 million for the quarter, compared to the consensus estimate of $23.25 million. Western New England Bancorp had a net margin of 26.08% and a return on equity of 12.02%. As a group, equities research analysts forecast that Western New England Bancorp will post 1.1 earnings per share for the current year.

Institutional Trading of Western New England Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Western New England Bancorp by 10.4% during the first quarter. BlackRock Inc. now owns 984,115 shares of the financial services provider’s stock worth $8,797,000 after buying an additional 92,764 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Western New England Bancorp by 6.0% during the fourth quarter. Hennessy Advisors Inc. now owns 440,000 shares of the financial services provider’s stock worth $4,162,000 after buying an additional 25,000 shares in the last quarter. rhino investment partners Inc purchased a new stake in Western New England Bancorp during the fourth quarter worth $1,727,000. White Pine Capital LLC lifted its holdings in Western New England Bancorp by 2.4% during the fourth quarter. White Pine Capital LLC now owns 115,646 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 2,747 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Western New England Bancorp by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 98,844 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 1,234 shares in the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

About Western New England Bancorp

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Western New England Bancorp, Inc is a holding company, which engages in the provision of financial services. It offers a range of investment advisory and wealth management services. Its loan portfolio includes commercial real estate, residential real estate, commercial and industrial, and consumer loans.