Western New England Bancorp (NASDAQ:WNEB) Short Interest Down 18.8% in February

Western New England Bancorp (NASDAQ:WNEB) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 306,206 shares, a decline of 18.8% from the January 29th total of 377,107 shares. Based on an average trading volume of 66,583 shares, the days-to-cover ratio is presently 4.6 days. Currently, 1.6% of the company’s shares are short sold. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 66,583 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Ratings Changes

A number of research firms 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 reissued a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Insider Transactions at Western New England Bancorp

In other news, Director Philip R. Smith sold 3,000 shares of the firm’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 completion of the transaction, the director owned 7,497 shares of the company’s stock, valued at approximately $98,735.49. This trade represents 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 the SEC website. Company insiders own 6.12% of the company’s stock.

Institutional Inflows and Outflows

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

Western New England Bancorp Price Performance

Shares of Western New England Bancorp stock opened at $12.69 on Wednesday. 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 $260.02 million, a PE ratio of 16.70 and a beta of 0.79. The business’s 50-day moving average price is $13.23 and its 200-day moving average price is $12.47. Western New England Bancorp has a 12 month low of $7.63 and a 12 month high of $14.52.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.26 EPS for the quarter, beating the consensus estimate 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 company had revenue of $22.01 million for the quarter, compared to analyst estimates of $18.62 million. Sell-side analysts forecast that Western New England Bancorp will post 0.6 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 11th. Western New England Bancorp’s dividend payout ratio is presently 36.84%.

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.