Royce & Associates LP Sells 43,170 Shares of Western New England Bancorp $WNEB

Royce & Associates LP decreased its position in shares of Western New England Bancorp (NASDAQ:WNEB) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 910,631 shares of the financial services provider’s stock after selling 43,170 shares during the quarter. Royce & Associates LP owned about 4.44% of Western New England Bancorp worth $10,937,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Western New England Bancorp in the second quarter worth $39,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Western New England Bancorp in the 2nd quarter valued at $45,000. JPMorgan Chase & Co. grew its holdings in shares of Western New England Bancorp by 51,300.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock valued at $81,000 after buying an additional 8,721 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at $93,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Western New England Bancorp during the 2nd quarter worth $100,000. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Trading Up 0.8%

Shares of Western New England Bancorp stock opened at $12.95 on Tuesday. The stock has a market cap of $265.35 million, a P/E ratio of 17.04 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. Western New England Bancorp has a 12-month low of $7.63 and a 12-month high of $14.52. The business’s 50 day moving average is $13.23 and its 200-day moving average is $12.46.

Western New England Bancorp (NASDAQ:WNEB) last issued its 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. Western New England Bancorp had a net margin of 11.64% and a return on equity of 6.36%. The business had revenue of $22.01 million for the quarter, compared to the consensus estimate of $18.62 million. Equities research analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director Philip R. Smith sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.17, for a total value of $39,510.00. Following the completion of the sale, the director directly owned 7,497 shares in the company, valued at approximately $98,735.49. This trade represents a 28.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.12% 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.