StockNews.com began to cover the shares of Bank of Western New England (NASDAQ: WNEB – Get a rating) in a report released Tuesday. The company has set a “buy” rating on the shares of the financial services provider.
Separately, Zacks Investment Research downgraded Western New England Bancorp from a “strong buy” rating to a “hold” rating in a Wednesday, March 30 research report.
Shares of NASDAQ WNEB opened at $8.67 on Tuesday. Western New England Bancorp has a 1-year minimum of $7.52 and a 1-year maximum of $9.98. The company has a market capitalization of $197.69 million, a price-earnings ratio of 8.42 and a beta of 0.36. The company has a debt ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $9.01 and its 200-day simple moving average is $9.03.
Bank of Western New England (NASDAQ: WNEB – Get a rating) last announced its results on Tuesday, January 25. The financial services provider reported earnings per share (EPS) of $0.28 for the quarter, beating the Zacks consensus estimate of $0.23 by $0.05. Western New England Bancorp achieved a return on equity of 10.67% and a net margin of 25.65%. The company posted revenue of $22.44 million for the quarter, versus analyst estimates of $21.35 million. As a group, research analysts predict that Western New England Bancorp will post an EPS of 0.89 for the current year.
Separately, CFO Guida R. Sajdak sold 13,068 shares of the company in a transaction that took place on Wednesday, February 9. The stock was sold at an average price of $9.20, for a total transaction of $120,225.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Additionally, CFO Guida R. Sajdak sold 4,281 shares of the company in a transaction that took place on Thursday, February 3. The shares were sold at an average price of $9.20, for a total value of $39,385.20. Disclosure of this sale can be found here. In the past three months, insiders have sold 22,769 shares of the company valued at $209,475. 4.75% of the shares are held by company insiders.
Several large investors have recently bought and sold shares of WNEB. Strategic Value Bank Partners LLC bought a new position in shares of Western New England Bancorp during the fourth quarter, valued at approximately $10,175,000. Petiole USA ltd bought a new position in shares of Western New England Bancorp during the fourth quarter valued at approximately $1,274,000. Hennessy Advisors Inc. increased its position in Western New England Bancorp shares by 126.4% during the fourth quarter. Hennessy Advisors Inc. now owns 240,000 shares of the financial services provider worth $2,102,000 after purchasing an additional 134,000 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Western New England Bancorp during the third quarter worth approximately $470,000. Finally, Morgan Stanley increased its position in Western New England Bancorp shares by 220.7% during the second quarter. Morgan Stanley now owns 69,941 shares of the financial services provider worth $570,000 after purchasing an additional 48,129 shares during the period. 52.92% of the shares are held by institutional investors.
Western New England Bancorp Company Profile (Get a rating)
Western New England Bancorp, Inc operates as the holding company of Westfield Bank which provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts a variety of deposit accounts, including checking, commercial and municipal savings, money market and sweepstakes, individual retirement and other savings accounts; term deposits; certificates of deposit; and interest on lawyers’ trust accounts.
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