StockNews.com Begins Coverage on Western New England Bancorp (NASDAQ:WNEB)

StockNews.com initiated coverage on shares of Western New England Bancorp (NASDAQ:WNEBGet Rating) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating on the financial services provider’s stock.

Separately, Zacks Investment Research cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 30th.

WNEB opened at $8.74 on Monday. The stock’s 50 day simple moving average is $9.05 and its 200 day simple moving average is $9.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. Western New England Bancorp has a 1 year low of $7.52 and a 1 year high of $9.98. The firm has a market cap of $199.29 million, a price-to-earnings ratio of 8.49 and a beta of 0.36.

Western New England Bancorp (NASDAQ:WNEBGet Rating) last released its quarterly earnings data on Tuesday, January 25th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05. Western New England Bancorp had a return on equity of 10.67% and a net margin of 25.65%. The business had revenue of $22.44 million during the quarter, compared to analysts’ expectations of $21.35 million. As a group, sell-side analysts anticipate that Western New England Bancorp will post 0.89 EPS for the current year.

In other news, CFO Guida R. Sajdak sold 13,068 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $9.20, for a total value of $120,225.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Guida R. Sajdak sold 5,420 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $9.20, for a total value of $49,864.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,769 shares of company stock valued at $209,475. Company insiders own 5.85% of the company’s stock.

A number of hedge funds have recently bought and sold shares of WNEB. Strategic Value Bank Partners LLC bought a new position in Western New England Bancorp during the 4th quarter valued at approximately $10,175,000. Petiole USA ltd bought a new position in Western New England Bancorp during the 4th quarter valued at approximately $1,274,000. Hennessy Advisors Inc. increased its position in Western New England Bancorp by 126.4% during the 4th quarter. Hennessy Advisors Inc. now owns 240,000 shares of the financial services provider’s stock valued at $2,102,000 after buying an additional 134,000 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Western New England Bancorp in the 3rd quarter worth $470,000. Finally, Morgan Stanley increased its holdings in shares of Western New England Bancorp by 220.7% in the 2nd quarter. Morgan Stanley now owns 69,941 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 48,129 shares in the last quarter. 52.92% of the stock is owned by institutional investors.

About Western New England Bancorp (Get Rating)

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, business and municipal savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyers trust accounts.

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