Short Interest in Western New England Bancorp, Inc. (NASDAQ:WNEB) Expands By 142.4%

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 147,400 shares, a growth of 142.4% from the February 28th total of 60,800 shares. Based on an average trading volume of 55,400 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn raised shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th.

Western New England Bancorp Stock Up 0.9 %

Shares of NASDAQ:WNEB opened at $9.43 on Friday. The company has a market cap of $195.65 million, a price-to-earnings ratio of 16.84 and a beta of 0.71. Western New England Bancorp has a 12 month low of $6.00 and a 12 month high of $10.08. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $9.30 and a 200 day moving average price of $9.07.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, equities research analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Wednesday, February 12th. Western New England Bancorp’s payout ratio is 50.00%.

Institutional Investors Weigh In On Western New England Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its stake in shares of Western New England Bancorp by 483.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 6,060 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Western New England Bancorp during the fourth quarter valued at approximately $108,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Western New England Bancorp during the fourth quarter valued at approximately $120,000. Raymond James Financial Inc. bought a new position in shares of Western New England Bancorp during the fourth quarter valued at approximately $209,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Western New England Bancorp in the fourth quarter worth approximately $253,000. Hedge funds and other institutional investors own 67.95% of the company’s stock.

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.