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

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

Other equities analysts have also recently issued reports about the stock. DA Davidson reaffirmed a neutral rating on shares of Western New England Bancorp in a research note on Monday, July 22nd. Zacks Investment Research cut shares of Western New England Bancorp from a hold rating to a sell rating in a research note on Saturday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $10.50.

Shares of WNEB stock traded up $0.11 on Thursday, hitting $9.78. 25,300 shares of the stock traded hands, compared to its average volume of 23,816. Western New England Bancorp has a 52 week low of $8.50 and a 52 week high of $10.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.05 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $9.55 and a two-hundred day simple moving average of $9.31. The firm has a market cap of $256.85 million, a price-to-earnings ratio of 17.46 and a beta of 0.21.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Western New England Bancorp had a return on equity of 5.93% and a net margin of 15.15%. The firm had revenue of $17.14 million for the quarter, compared to analysts’ expectations of $17.20 million. Sell-side analysts forecast that Western New England Bancorp will post 0.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.04%. Western New England Bancorp’s dividend payout ratio is presently 35.71%.

Several hedge funds have recently added to or reduced their stakes in WNEB. Municipal Employees Retirement System of Michigan purchased a new stake in Western New England Bancorp in the 2nd quarter valued at about $419,000. Seizert Capital Partners LLC purchased a new stake in Western New England Bancorp in the 2nd quarter valued at about $325,000. Renaissance Technologies LLC boosted its position in Western New England Bancorp by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,713,327 shares of the financial services provider’s stock valued at $16,002,000 after buying an additional 28,118 shares during the period. Context BH Capital Management LP purchased a new stake in Western New England Bancorp in the 2nd quarter valued at about $250,000. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in Western New England Bancorp by 9.1% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 312,512 shares of the financial services provider’s stock valued at $2,978,000 after buying an additional 26,087 shares during the period. 52.57% of the stock is owned by hedge funds and other institutional investors.

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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