Darlene Libiszewski Sells 3,680 Shares of Western New England Bancorp (NASDAQ:WNEB) Stock

Western New England Bancorp (NASDAQ:WNEB) SVP Darlene Libiszewski sold 3,680 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the sale, the senior vice president owned 14,048 shares in the company, valued at $188,524.16. The trade was a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $13.39 on Friday. The stock has a market capitalization of $269.41 million, a PE ratio of 15.05 and a beta of 0.79. Western New England Bancorp has a one year low of $8.52 and a one year high of $14.52. The business’s 50 day simple moving average is $13.40 and its 200 day simple moving average is $13.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93.

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, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $21.82 million for the quarter, compared to analysts’ expectations of $21.96 million. Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%. As a group, research analysts forecast that Western New England Bancorp will post 1 earnings per share for the current year.

Western New England Bancorp Announces Dividend

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

Hedge Funds Weigh In On Western New England Bancorp

A number of large investors have recently modified their holdings of WNEB. Geode Capital Management LLC lifted its holdings in shares of Western New England Bancorp by 103.6% in the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after purchasing an additional 220,852 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Western New England Bancorp in the 3rd quarter worth $1,592,000. Teton Advisors LLC bought a new position in shares of Western New England Bancorp in the 3rd quarter worth $805,000. Jane Street Group LLC lifted its holdings in shares of Western New England Bancorp by 190.1% in the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 52,858 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Western New England Bancorp in the 3rd quarter worth $600,000. 67.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.