Geode Capital Management LLC Decreases Stock Position in Western New England Bancorp, Inc. (NASDAQ:WNEB)

Geode Capital Management LLC reduced its position in Western New England Bancorp, Inc. (NASDAQ:WNEB) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,752 shares of the financial services provider’s stock after selling 5,164 shares during the period. Geode Capital Management LLC owned 1.00% of Western New England Bancorp worth $1,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Western New England Bancorp by 23.8% in the 3rd quarter. Barclays PLC now owns 44,422 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 8,532 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Western New England Bancorp by 48.8% in the third quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 16,158 shares during the last quarter. Empowered Funds LLC raised its stake in Western New England Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 79,545 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 4,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Western New England Bancorp by 16.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,605 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 11,936 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Western New England Bancorp by 16.6% in the 2nd quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider’s stock worth $2,762,000 after buying an additional 57,099 shares in the last quarter. 67.95% of the stock is owned by institutional investors.

Insider Transactions at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $9.18, for a total transaction of $45,900.00. Following the completion of the sale, the senior vice president now directly owns 16,020 shares of the company’s stock, valued at approximately $147,063.60. This trade represents a 23.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.80% of the company’s stock.

Western New England Bancorp Stock Performance

Western New England Bancorp stock opened at $8.81 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.62. Western New England Bancorp, Inc. has a twelve month low of $6.00 and a twelve month high of $10.08. The company’s 50-day moving average price is $9.18 and its 200-day moving average price is $8.54. The company has a market cap of $185.17 million, a PE ratio of 16.94 and a beta of 0.70.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $30.98 million during the quarter, compared to the consensus estimate of $17.39 million. Western New England Bancorp had a net margin of 9.05% and a return on equity of 4.58%. On average, equities research analysts forecast that Western New England Bancorp, Inc. will post 0.52 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, November 7th. Western New England Bancorp’s dividend payout ratio is currently 53.85%.

About Western New England Bancorp

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.