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

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 52,500 shares, a decline of 19.6% from the October 15th total of 65,300 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 34,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WNEB shares. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note 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 shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, July 24th.

Western New England Bancorp Stock Performance

Shares of Western New England Bancorp stock opened at $8.90 on Friday. Western New England Bancorp has a 1-year low of $6.00 and a 1-year high of $9.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $187.08 million, a P/E ratio of 17.12 and a beta of 0.68. The stock’s 50 day simple moving average is $8.69 and its 200-day simple moving average is $7.79.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $30.98 million for the quarter, compared to analyst estimates of $17.39 million. Western New England Bancorp had a net margin of 9.05% and a return on equity of 4.58%. Analysts predict that Western New England Bancorp will post 0.52 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.07 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.15%. Western New England Bancorp’s payout ratio is presently 53.85%.

Hedge Funds Weigh In On Western New England Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in shares of Western New England Bancorp during the first quarter worth $85,000. Legato Capital Management LLC increased its holdings in shares of 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 purchasing an additional 6,021 shares during the period. Quadrature Capital Ltd increased its stake in Western New England Bancorp by 50.9% in the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock valued at $170,000 after buying an additional 7,482 shares during the period. Panagora Asset Management Inc. acquired a new stake in Western New England Bancorp in the second quarter valued at about $170,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Western New England Bancorp by 45.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider’s stock valued at $221,000 after buying an additional 10,006 shares during the period. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

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.