Seaport Res Ptn Downgrades Western New England Bancorp (NASDAQ:WNEB) to Hold

Western New England Bancorp (NASDAQ:WNEB) was downgraded by Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports. Seaport Res Ptn also issued estimates for Western New England Bancorp’s Q3 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.58 EPS.

Other research analysts have also recently issued reports about the stock. Janney Montgomery Scott cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday. Piper Sandler increased their price target on shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Western New England Bancorp Stock Performance

Shares of WNEB opened at $8.49 on Wednesday. The firm’s 50 day simple moving average is $6.93 and its 200 day simple moving average is $7.42. The company has a market capitalization of $183.64 million, a P/E ratio of 14.15 and a beta of 0.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95. Western New England Bancorp has a 1-year low of $6.00 and a 1-year high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.74%. The business had revenue of $30.64 million for the quarter, compared to the consensus estimate of $18.22 million. Sell-side analysts forecast that Western New England Bancorp will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WNEB. International Assets Investment Management LLC grew its holdings in shares of Western New England Bancorp by 808.9% in the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 4,465 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Western New England Bancorp in the first quarter worth approximately $85,000. Quadrature Capital Ltd grew its holdings in shares of Western New England Bancorp by 50.9% in the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 7,482 shares during the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Western New England Bancorp by 19.3% in the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 3,585 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Western New England Bancorp by 8.7% in the fourth quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 1,917 shares during the last quarter. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Company Profile

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 interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.