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

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 64,700 shares, a growth of 16.8% from the August 15th total of 55,400 shares. Based on an average daily volume of 35,600 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of Western New England Bancorp during the 1st quarter worth approximately $85,000. Legato Capital Management LLC boosted its stake in Western New England Bancorp by 39.0% in the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 6,021 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Western New England Bancorp by 50.9% during the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 7,482 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Western New England Bancorp by 19.3% during the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 3,585 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Western New England Bancorp in the 2nd quarter valued at about $170,000. 67.95% of the stock is owned by institutional investors and hedge funds.

Western New England Bancorp Stock Up 0.1 %

Shares of NASDAQ WNEB opened at $8.74 on Tuesday. Western New England Bancorp has a 12-month low of $6.00 and a 12-month high of $9.25. The stock has a market cap of $186.34 million, a P/E ratio of 14.57 and a beta of 0.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $8.23 and its 200-day simple moving average is $7.38.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. The business had revenue of $30.64 million during the quarter, compared to analysts’ expectations of $18.22 million. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%. As a group, equities analysts predict that Western New England Bancorp will post 0.53 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 46.67%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WNEB shares. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Seaport Res Ptn cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler boosted their target price on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Western New England Bancorp has an average rating of “Hold” and a consensus target price of $8.00.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.