Western New England Bancorp (NASDAQ:WNEB) Coverage Initiated at StockNews.com

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

Western New England Bancorp Trading Up 1.4 %

NASDAQ WNEB opened at $7.84 on Friday. Western New England Bancorp has a one year low of $7.13 and a one year high of $9.98. The company’s 50 day moving average price is $7.85 and its 200 day moving average price is $8.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $177.50 million, a price-to-earnings ratio of 7.61 and a beta of 0.43.

Western New England Bancorp (NASDAQ:WNEBGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Western New England Bancorp had a net margin of 25.34% and a return on equity of 10.47%. The firm had revenue of $21.05 million for the quarter, compared to analyst estimates of $21.10 million. On average, sell-side analysts predict that Western New England Bancorp will post 0.97 EPS for the current year.

Insider Activity

In other news, SVP Darlene M. Libiszewski sold 8,795 shares of Western New England Bancorp stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $8.41, for a total transaction of $73,965.95. Following the sale, the senior vice president now owns 15,389 shares in the company, valued at $129,421.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Darlene M. Libiszewski sold 8,795 shares of Western New England Bancorp stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $8.41, for a total value of $73,965.95. Following the completion of the sale, the senior vice president now owns 15,389 shares in the company, valued at $129,421.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Darlene M. Libiszewski sold 6,180 shares of Western New England Bancorp stock in a transaction on Monday, June 6th. The stock was sold at an average price of $8.40, for a total transaction of $51,912.00. Following the completion of the sale, the senior vice president now owns 15,389 shares of the company’s stock, valued at approximately $129,267.60. The disclosure for this sale can be found here. Insiders own 4.75% of the company’s stock.

Hedge Funds Weigh In On Western New England Bancorp

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in Western New England Bancorp by 22.2% in the first quarter. UBS Group AG now owns 9,843 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 1,786 shares during the period. Jane Street Group LLC acquired a new position in Western New England Bancorp in the first quarter worth $139,000. Assenagon Asset Management S.A. acquired a new position in Western New England Bancorp in the fourth quarter worth $138,000. Globeflex Capital L P acquired a new position in shares of Western New England Bancorp during the fourth quarter valued at $184,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Western New England Bancorp by 39.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,364 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 7,415 shares during the period. Institutional investors and hedge funds own 52.43% of the company’s stock.

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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