Western New England Bancorp (NASDAQ:WNEB) Director Sells $45,804.00 in Stock

Western New England Bancorp (NASDAQ:WNEB) Director Philip Smith sold 3,300 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $13.88, for a total transaction of $45,804.00. Following the sale, the director directly owned 5,800 shares of the company’s stock, valued at $80,504. This represents a 36.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Western New England Bancorp Stock Performance

WNEB stock opened at $13.89 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $278.49 million, a price-to-earnings ratio of 16.54 and a beta of 0.77. The business has a fifty day simple moving average of $14.00 and a 200-day simple moving average of $13.60. Western New England Bancorp has a 52 week low of $10.78 and a 52 week high of $15.01.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. On average, equities research analysts expect that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 12th. Western New England Bancorp’s dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

A number of analysts recently issued reports on WNEB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Western New England Bancorp in a research report on Friday, August 7th. Wall Street Zen cut shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Seaport Research Partners downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 29th. Zacks Research downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Piper Sandler lifted their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.50.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of WNEB. BlackRock Inc. acquired a new stake in Western New England Bancorp in the second quarter valued at approximately $26,266,000. Geode Capital Management LLC boosted its stake in shares of Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock valued at $4,007,000 after buying an additional 220,852 shares during the last quarter. Fourthstone LLC boosted its stake in shares of Western New England Bancorp by 11.3% during the 4th quarter. Fourthstone LLC now owns 319,953 shares of the financial services provider’s stock valued at $4,038,000 after buying an additional 32,560 shares during the last quarter. State Street Corp grew its position in shares of Western New England Bancorp by 7.1% during the fourth quarter. State Street Corp now owns 268,814 shares of the financial services provider’s stock worth $3,392,000 after buying an additional 17,937 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Western New England Bancorp by 1.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock worth $2,822,000 after buying an additional 2,171 shares during the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.