Insider Selling: Western New England Bancorp (NASDAQ:WNEB) Director Sells 3,300 Shares of Stock

Western New England Bancorp (NASDAQ:WNEB) Director Philip Smith sold 3,300 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $13.88, for a total transaction of $45,804.00. Following the completion of the transaction, the director owned 5,800 shares of the company’s stock, valued at approximately $80,504. This represents a 36.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Western New England Bancorp Price Performance

NASDAQ WNEB traded up $0.18 during trading hours on Friday, reaching $13.89. The company’s stock had a trading volume of 77,515 shares, compared to its average volume of 57,234. The firm has a market capitalization of $278.49 million, a price-to-earnings ratio of 16.54 and a beta of 0.77. The company’s 50-day moving average is $14.01 and its two-hundred day moving average is $13.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. Western New England Bancorp has a 1-year low of $10.78 and a 1-year high of $15.01.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. The business had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. On average, equities analysts predict that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 12th. Western New England Bancorp’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

WNEB has been the topic of a number of recent research reports. Seaport Research Partners lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “buy (b)” rating on shares of Western New England Bancorp in a report on Friday, August 7th. Piper Sandler upped their price target on Western New England Bancorp from $15.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Zacks Research cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.50.

Hedge Funds Weigh In On Western New England Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC raised its position in Western New England Bancorp by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 726 shares during the period. Bank of America Corp DE increased its position in shares of Western New England Bancorp by 3.2% during the 1st quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 1,884 shares during the last quarter. Empowered Funds LLC raised its holdings in Western New England Bancorp by 2.0% in the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock valued at $1,420,000 after buying an additional 2,171 shares during the period. Bridgeway Capital Management LLC lifted its position in Western New England Bancorp by 1.0% in 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 buying an additional 2,171 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in 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 worth $864,000 after buying an additional 2,405 shares during the period. 67.95% of the stock is currently owned by institutional investors and hedge funds.

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.