Western New England Bancorp (NASDAQ:WNEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Western New England Bancorp, Inc. provides banking services. The Company offers personal checking accounts, loans, eBanking services, commercial loans, money market accounts, wealth management, retirement planning and other related financial services. Western New England Bancorp, Inc., formerly known as Westfield Financial, Inc., is based in Westfield, MA. “

A number of other equities research analysts also recently weighed in on WNEB. BidaskClub upgraded Western New England Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. ValuEngine downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Sandler O’Neill upgraded Western New England Bancorp from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Thursday, December 20th. Finally, Compass Point downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.75.

WNEB opened at $9.64 on Thursday. The company has a market capitalization of $260.32 million, a price-to-earnings ratio of 17.21 and a beta of 0.16. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. Western New England Bancorp has a 1-year low of $8.50 and a 1-year high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, January 29th. The financial services provider reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. The firm had revenue of $17.06 million during the quarter, compared to the consensus estimate of $17.19 million. Western New England Bancorp had a return on equity of 6.75% and a net margin of 18.60%. On average, analysts predict that Western New England Bancorp will post 0.56 EPS for the current fiscal year.

In other news, SVP William J. Wagner sold 57,372 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $9.90, for a total transaction of $567,982.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Darlene M. Libiszewski sold 3,275 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $9.93, for a total value of $32,520.75. The disclosure for this sale can be found here. Insiders sold 67,422 shares of company stock valued at $668,059 over the last 90 days. 5.22% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY lifted its position in shares of Western New England Bancorp by 346.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 7,494 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Western New England Bancorp during the 3rd quarter valued at $114,000. JPMorgan Chase & Co. lifted its position in shares of Western New England Bancorp by 119.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 6,520 shares during the last quarter. Essex Financial Services Inc. acquired a new stake in shares of Western New England Bancorp during the 4th quarter valued at $152,000. Finally, MetLife Investment Advisors LLC lifted its position in shares of Western New England Bancorp by 55.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 7,494 shares during the last quarter. Institutional investors own 58.37% of the company’s stock.

About Western New England Bancorp

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides community banking products and services to individuals and businesses. The company accepts various deposit accounts, including time deposits, money market accounts, savings accounts, demand accounts, and interest bearing checking accounts.

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