Philip Smith Sells 3,000 Shares of Western New England Bancorp (NASDAQ:WNEB) Stock

Western New England Bancorp (NASDAQ:WNEB) Director Philip Smith sold 3,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.17, for a total transaction of $39,510.00. Following the transaction, the director owned 7,497 shares of the company’s stock, valued at approximately $98,735.49. The trade was a 28.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Western New England Bancorp Stock Performance

WNEB traded up $0.10 on Monday, hitting $12.95. 76,907 shares of the stock traded hands, compared to its average volume of 61,605. The business has a fifty day moving average price of $13.23 and a two-hundred day moving average price of $12.45. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $265.37 million, a PE ratio of 17.04 and a beta of 0.81. Western New England Bancorp has a 52 week low of $7.63 and a 52 week high of $14.52.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $22.01 million for the quarter, compared to the consensus estimate of $18.62 million. Western New England Bancorp had a net margin of 11.64% and a return on equity of 6.36%. On average, research analysts predict that Western New England Bancorp will post 0.6 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.28 annualized dividend and a dividend yield of 2.2%. Western New England Bancorp’s dividend payout ratio (DPR) is presently 36.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WNEB. Zacks Research upgraded Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western New England Bancorp in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Hedge Funds Weigh In On Western New England Bancorp

A number of large investors have recently modified their holdings of the business. MetLife Investment Management LLC boosted its holdings in shares of Western New England Bancorp by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 726 shares during the period. Empowered Funds LLC lifted its holdings in Western New England Bancorp by 2.0% during the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock worth $1,420,000 after purchasing an additional 2,171 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Western New England Bancorp by 1.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock valued at $2,822,000 after purchasing an additional 2,171 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Western New England Bancorp by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock valued at $864,000 after buying an additional 2,405 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Western New England Bancorp by 95.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock worth $60,000 after buying an additional 2,446 shares during the period. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Western New England Bancorp Company Profile

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.