Maltese Capital Management LLC Sells 57,612 Shares of Western New England Bancorp $WNEB

Maltese Capital Management LLC trimmed its holdings in shares of Western New England Bancorp (NASDAQ:WNEB) by 25.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 164,888 shares of the financial services provider’s stock after selling 57,612 shares during the quarter. Maltese Capital Management LLC’s holdings in Western New England Bancorp were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its stake in shares of Western New England Bancorp by 141.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock worth $164,000 after buying an additional 10,358 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Western New England Bancorp by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 24,597 shares during the period. Empowered Funds LLC lifted its position in shares of Western New England Bancorp by 7.0% during the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock valued at $832,000 after buying an additional 5,883 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Western New England Bancorp by 190.1% in the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after buying an additional 52,858 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Western New England Bancorp by 103.6% during the second quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after buying an additional 220,852 shares during the period. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Stock Performance

NASDAQ:WNEB opened at $13.49 on Tuesday. The company has a market cap of $271.42 million, a P/E ratio of 15.16 and a beta of 0.76. The firm’s 50 day moving average is $13.59 and its two-hundred day moving average is $13.22. Western New England Bancorp has a fifty-two week low of $8.52 and a fifty-two week high of $14.52. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $21.82 million during the quarter, compared to the consensus estimate of $21.96 million. Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%. Analysts expect that Western New England Bancorp will post 1 EPS for the current year.

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio (DPR) is 31.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Seaport Research Partners boosted their price target on Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Weiss Ratings upgraded Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Hovde Group upgraded Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Activity at Western New England Bancorp

In other news, SVP Darlene M. Libiszewski sold 3,680 shares of Western New England Bancorp stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the transaction, the senior vice president owned 14,048 shares in the company, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.56% of the company’s stock.

Western New England Bancorp 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.