Hennessy Advisors Inc. Has $2.64 Million Stake in Western New England Bancorp $WNEB

Hennessy Advisors Inc. cut its stake in Western New England Bancorp (NASDAQ:WNEB) by 24.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,000 shares of the financial services provider’s stock after selling 70,000 shares during the period. Hennessy Advisors Inc.’s holdings in Western New England Bancorp were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WNEB. Russell Investments Group Ltd. bought a new stake in shares of Western New England Bancorp in the second quarter valued at about $39,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Western New England Bancorp in the 2nd quarter valued at approximately $45,000. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 8,721 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Western New England Bancorp during the 2nd quarter worth approximately $93,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Western New England Bancorp during the 2nd quarter worth approximately $100,000. Institutional investors own 67.95% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western New England Bancorp currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Western New England Bancorp Stock Down 0.2%

WNEB stock opened at $12.62 on Friday. The company has a market cap of $258.58 million, a price-to-earnings ratio of 19.12 and a beta of 0.83. Western New England Bancorp has a twelve month low of $7.63 and a twelve month high of $13.95. The business has a 50 day moving average price of $12.27 and a two-hundred day moving average price of $11.50. 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 (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). Western New England Bancorp had a net margin of 10.33% and a return on equity of 5.58%. The company had revenue of $18.06 million during the quarter, compared to analyst estimates of $17.99 million. Analysts anticipate 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, November 26th. Stockholders of record on Wednesday, November 12th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, November 12th. Western New England Bancorp’s dividend payout ratio (DPR) is 42.42%.

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.