Western New England Bancorp (NASDAQ:WNEB) Short Interest Update

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

Wall Street Analyst Weigh In

A number of research firms recently commented on WNEB. Weiss Ratings restated a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, January 21st. Zacks Research upgraded Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One investment 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, Western New England Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Western New England Bancorp Price Performance

Shares of NASDAQ WNEB opened at $12.90 on Thursday. The company has a fifty day moving average price of $13.23 and a 200 day moving average price of $12.47. The firm has a market cap of $264.32 million, a PE ratio of 16.97 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Western New England Bancorp has a 1-year low of $7.63 and a 1-year high of $14.52.

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

Western New England Bancorp Dividend Announcement

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

Insider Activity at Western New England Bancorp

In other Western New England Bancorp news, Director Philip R. Smith sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was 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 in the company, valued at approximately $98,735.49. This trade represents a 28.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.12% of the stock is currently owned by company insiders.

Institutional Trading of Western New England Bancorp

A number of institutional investors have recently made changes to their positions in WNEB. Russell Investments Group Ltd. bought a new position in Western New England Bancorp in the second quarter valued at $39,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Western New England Bancorp during the 2nd quarter worth about $45,000. BNP Paribas Financial Markets grew its holdings in shares of 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 valued at $60,000 after acquiring an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Western New England Bancorp by 51,300.0% in the second 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Western New England Bancorp during the second quarter worth about $93,000. Institutional investors own 67.95% 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.