Western New England Bancorp (WNEB) Stock Rating Lowered by Zacks Investment Research

Xavier Trudeau
Août 13, 2017

(NASDAQ:EWBC) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). Wedge Capital Management L L P NC owned 1.86% of Great Western Bancorp worth $44,973,000 at the end of the most recent quarter. Finally, CENTRAL TRUST Co bought a new stake in East West Bancorp during the first quarter valued at about $177,000. Vanguard Group Inc. now owns 12,734,214 shares of the financial services provider's stock worth $745,971,000 after buying an additional 893,764 shares during the period. Bank of New York Mellon Corp increased its position in Great Western Bancorp by 162.4% in the first quarter. Tributary Capital Management LLC acquired a new position in Great Western Bancorp during the second quarter worth approximately $13,169,000. Oppenheimer Asset Management Inc. purchased a new position in shares of East West Bancorp during the first quarter valued at about $230,000. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider's stock valued at $190,000 after buying an additional 4,428 shares during the period. Vanguard Group Inc. now owns 11,840,450 shares of the financial services provider's stock valued at $611,085,000 after buying an additional 566,257 shares during the period. BidaskClub downgraded East West Bancorp from a "buy" rating to a "hold" rating in a report on Wednesday, July 12th. The firm has a market cap of $2.15 billion, a PE ratio of 15.29 and a beta of 1.69. East West Bancorp has a 12-month low of $34.02 and a 12-month high of $60.42. The company has a 50-day moving average price of $57.72 and a 200-day moving average price of $54.94. PiperJaffray initiated Great Western Bancorp Inc (NYSE:GWB) on Thursday, October 6 with "Neutral" rating. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by $0.01. The firm had revenue of $16.82 million during the quarter, compared to analysts' expectations of $16.74 million. The SI to East West Bancorp's float is 2.18%. During the same quarter previous year, the firm earned $0.71 EPS. During the same quarter a year ago, the business earned $0.71 earnings per share. Equities research analysts predict that Great Western Bancorp, Inc. will post $2.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. The ex-dividend date will be on Friday July 28th, 2017. The ex-dividend date is Wednesday, August 9th. The dividend yield will be $1.40. East West Bancorp's dividend payout ratio is 22.92%.

TRADEMARK VIOLATION WARNING: "Louisiana State Employees Retirement System Buys 1,300 Shares of East West Bancorp, Inc. (GWB)" was first posted by Week Herald and is owned by of Week Herald.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/08/12/western-new-england-bancorp-nasdaqwneb-upgraded-at-valuengine-updated-updated.html.

WNEB has been the topic of a number of other reports. (NASDAQ:EWBC) was downgraded by analysts at Deutsche Bank AG from a "buy" rating to a "hold" rating in a report released on Friday, July 14th, MarketBeat reports. JP Morgan reinitiated it with "Overweight" rating and $38 target in Thursday, April 7 report.

Western New England Bancorp (NASDAQ:WNEB) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report issued on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $57.00 price objective on shares of East West Bancorp in a research note on Friday, June 23rd.

Media coverage about East West Bancorp (NASDAQ:EWBC) has been trending somewhat positive on Saturday, Accern Sentiment reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of "Hold" and a consensus target price of $45.56.

In other news, Director Jack C. Liu sold 1,123 shares of East West Bancorp stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $59.00, for a total value of $66,257.00. Following the completion of the sale, the insider now owns 300 shares of the company's stock, valued at $12,285. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

The company is trading down since yesterday's close of $55.08. DA Davidson also issued estimates for East West Bancorp's Q4 2017 earnings at $0.93 EPS and FY2018 earnings at $3.80 EPS. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served clients through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.

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