Western New England Bancorp Inc (WNEB) Given Average Rating of “Hold” by Analysts

Shares of Western New England Bancorp Inc (NASDAQ:WNEB) have received an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.83.

Several research analysts have recently issued reports on WNEB shares. Zacks Investment Research upgraded shares of Western New England Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, October 31st. Sandler O’Neill started coverage on shares of Western New England Bancorp in a report on Tuesday, December 5th. They set a “buy” rating and a $13.00 price objective on the stock. BidaskClub upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Piper Jaffray Companies restated a “hold” rating and set a $11.50 price objective on shares of Western New England Bancorp in a report on Tuesday, January 9th. Finally, Compass Point downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, October 18th.

Several institutional investors have recently modified their holdings of the company. 1st Global Advisors Inc. boosted its position in shares of Western New England Bancorp by 1.0% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,655 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 117 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Western New England Bancorp by 2.0% during the 2nd quarter. Wells Fargo & Company MN now owns 25,046 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 491 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Western New England Bancorp by 9.5% during the 2nd quarter. Nationwide Fund Advisors now owns 19,793 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,725 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Western New England Bancorp by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,189 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 1,873 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Western New England Bancorp by 0.9% during 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 in the last quarter. Institutional investors and hedge funds own 56.76% of the company’s stock.

Western New England Bancorp (NASDAQ WNEB) remained flat at $$9.95 during trading hours on Friday. The stock had a trading volume of 49,188 shares, compared to its average volume of 31,926. Western New England Bancorp has a 52 week low of $9.30 and a 52 week high of $11.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.42. The company has a market cap of $303.35, a P/E ratio of 24.27 and a beta of 0.35.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.04 per share. This is a positive change from Western New England Bancorp’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, February 13th. Western New England Bancorp’s payout ratio is 29.27%.

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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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