Zacks Research Upgrades Western New England Bancorp (NASDAQ:WNEB) to “Strong-Buy”

Western New England Bancorp (NASDAQ:WNEB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Western New England Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Western New England Bancorp Stock Up 1.7%

Shares of Western New England Bancorp stock opened at $13.43 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. Western New England Bancorp has a 1-year low of $7.63 and a 1-year high of $13.95. The business’s fifty day moving average price is $12.81 and its two-hundred day moving average price is $12.01. The company has a market capitalization of $275.18 million, a P/E ratio of 17.67 and a beta of 0.83.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. Western New England Bancorp had a return on equity of 6.36% and a net margin of 11.64%.The company had revenue of $22.01 million for the quarter, compared to analyst estimates of $18.62 million. As a group, research analysts forecast that Western New England Bancorp will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Western New England Bancorp

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Western New England Bancorp by 103.6% during the second quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock valued at $4,007,000 after purchasing an additional 220,852 shares during the last quarter. Acadian Asset Management LLC grew its position in Western New England Bancorp by 5.3% in the second quarter. Acadian Asset Management LLC now owns 405,323 shares of the financial services provider’s stock worth $3,736,000 after buying an additional 20,282 shares during the last quarter. Mangrove Partners IM LLC increased its holdings in shares of Western New England Bancorp by 10.0% in the third quarter. Mangrove Partners IM LLC now owns 225,380 shares of the financial services provider’s stock valued at $2,707,000 after buying an additional 20,489 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Western New England Bancorp by 3.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 221,950 shares of the financial services provider’s stock valued at $2,049,000 after acquiring an additional 8,331 shares during the last quarter. Finally, White Pine Capital LLC lifted its position in shares of Western New England Bancorp by 1.5% during the 2nd quarter. White Pine Capital LLC now owns 168,254 shares of the financial services provider’s stock valued at $1,553,000 after acquiring an additional 2,553 shares during the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.