Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 52,500 shares, a decline of 19.6% from the October 15th total of 65,300 shares. Based on an average daily trading volume, of 34,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.3% of the shares of the stock are sold short.
Institutional Trading of Western New England Bancorp
Institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in shares of Western New England Bancorp in the 1st quarter valued at about $85,000. Legato Capital Management LLC boosted its holdings in shares of Western New England Bancorp by 39.0% during the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock worth $148,000 after buying an additional 6,021 shares in the last quarter. Quadrature Capital Ltd grew its position in shares of Western New England Bancorp by 50.9% during the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after buying an additional 7,482 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at $170,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of Western New England Bancorp by 45.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 10,006 shares during the period. Institutional investors own 67.95% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on WNEB. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Piper Sandler boosted their price target on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Seaport Res Ptn downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th.
Western New England Bancorp Stock Up 0.6 %
Shares of WNEB opened at $8.90 on Friday. The company has a market capitalization of $187.08 million, a PE ratio of 17.12 and a beta of 0.68. The stock’s 50-day moving average price is $8.69 and its two-hundred day moving average price is $7.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Western New England Bancorp has a 12 month low of $6.00 and a 12 month high of $9.25.
Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Western New England Bancorp had a net margin of 9.05% and a return on equity of 4.58%. The company had revenue of $30.98 million during the quarter, compared to the consensus estimate of $17.39 million. On average, analysts anticipate that Western New England Bancorp will post 0.52 EPS for the current year.
Western New England Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Thursday, November 7th. Western New England Bancorp’s dividend payout ratio is presently 53.85%.
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.
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