Acadian Asset Management LLC cut its stake in Western New England Bancorp (NASDAQ:WNEB) by 19.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,233 shares of the financial services provider’s stock after selling 11,981 shares during the period. Acadian Asset Management LLC’s holdings in Western New England Bancorp were worth $489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC acquired a new stake in shares of Western New England Bancorp during the fourth quarter worth about $328,000. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Western New England Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 181,620 shares of the financial services provider’s stock worth $1,907,000 after buying an additional 706 shares during the period. Nationwide Fund Advisors increased its stake in shares of Western New England Bancorp by 32.5% in the first quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock worth $190,000 after buying an additional 4,428 shares during the period. Monarch Partners Asset Management LLC acquired a new stake in shares of Western New England Bancorp during the first quarter worth about $440,000. Finally, First Trust Advisors LP acquired a new stake in shares of Western New England Bancorp during the first quarter worth about $225,000. Institutional investors and hedge funds own 54.82% of the company’s stock.

Shares of Western New England Bancorp (NASDAQ:WNEB) traded up 2.11% during trading on Monday, hitting $9.70. The company had a trading volume of 8,026 shares. The firm’s 50 day moving average is $10.08 and its 200-day moving average is $10.15. The stock has a market capitalization of $290.81 million, a P/E ratio of 22.40 and a beta of 0.40. Western New England Bancorp has a 52 week low of $7.41 and a 52 week high of $10.95.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.01. Western New England Bancorp had a return on equity of 5.47% and a net margin of 15.93%. The business had revenue of $16.82 million during the quarter, compared to the consensus estimate of $16.74 million. Equities research analysts anticipate that Western New England Bancorp will post $0.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, August 7th. Western New England Bancorp’s payout ratio is presently 30.00%.

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A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Western New England Bancorp in a research report on Wednesday, April 26th. Zacks Investment Research upgraded Western New England Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday, May 4th. ValuEngine upgraded Western New England Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. TheStreet upgraded Western New England Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $11.50 price target on shares of Western New England Bancorp in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.67.

In related news, insider William J. Wagner sold 162,363 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $10.21, for a total transaction of $1,657,726.23. Following the completion of the transaction, the insider now directly owns 341,900 shares of the company’s stock, valued at $3,490,799. The sale was disclosed in a filing with the SEC, which is available through this link. 6.10% of the stock is currently owned by corporate insiders.

About Western New England Bancorp

Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.

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Institutional Ownership by Quarter for Western New England Bancorp (NASDAQ:WNEB)

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