DA Davidson Begins Coverage on Western New England Bancorp (NASDAQ:WNEB)

DA Davidson initiated coverage on shares of Western New England Bancorp (NASDAQ:WNEB) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $10.00 target price on the financial services provider’s stock.

Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. BidaskClub downgraded shares of YRC Worldwide from a buy rating to a hold rating in a research note on Tuesday, April 30th. Finally, Zacks Investment Research restated a hold rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $10.50.

Western New England Bancorp stock opened at $9.37 on Thursday. Western New England Bancorp has a fifty-two week low of $8.50 and a fifty-two week high of $11.25. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day moving average of $9.25. The firm has a market cap of $252.55 million, a P/E ratio of 16.73 and a beta of 0.21.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The business had revenue of $16.50 million during the quarter, compared to the consensus estimate of $17.01 million. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. As a group, research analysts predict that Western New England Bancorp will post 0.52 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its stake in shares of Western New England Bancorp by 525.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,407 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 4,542 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Western New England Bancorp by 346.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 7,494 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Western New England Bancorp during the first quarter worth $112,000. Bank of America Corp DE grew its stake in shares of Western New England Bancorp by 34.6% during the fourth quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 6,876 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Western New England Bancorp by 2,820.8% during the first quarter. Acadian Asset Management LLC now owns 29,617 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 28,603 shares in the last quarter. Institutional investors and hedge funds own 52.60% 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 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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