Short Interest in Western New England Bancorp, Inc. (NASDAQ:WNEB) Grows By 49.2%

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 89,800 shares, a growth of 49.2% from the March 31st total of 60,200 shares. Based on an average daily volume of 41,700 shares, the short-interest ratio is presently 2.2 days. Currently, 0.5% of the shares of the stock are short sold.

Western New England Bancorp Stock Performance

Shares of Western New England Bancorp stock opened at $6.45 on Friday. The firm has a market cap of $140.03 million, a PE ratio of 10.75 and a beta of 0.61. Western New England Bancorp has a 52 week low of $5.58 and a 52 week high of $9.25. The business’s fifty day simple moving average is $7.50 and its 200-day simple moving average is $7.87. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $18.89 million during the quarter, compared to analysts’ expectations of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. Equities analysts forecast that Western New England Bancorp will post 0.51 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, May 7th. Western New England Bancorp’s dividend payout ratio (DPR) is 46.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake 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 valued at $45,000 after purchasing an additional 4,465 shares during the period. Essex Financial Services Inc. increased its position in shares of Western New England Bancorp by 14.2% during the third quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 1,929 shares during the period. Raymond James & Associates raised its stake in shares of Western New England Bancorp by 10.3% in the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 2,081 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in Western New England Bancorp by 19.3% during the 1st 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 in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Western New England Bancorp by 6.8% during the 3rd quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,838 shares during the period. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler reiterated a “neutral” rating and set a $7.50 price target (down previously from $9.00) on shares of Western New England Bancorp in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.50.

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.