Western New England Bancorp, Inc. (NASDAQ:WNEB) Position Reduced by Royce & Associates LP

Royce & Associates LP trimmed its stake in shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 912,731 shares of the financial services provider’s stock after selling 80,380 shares during the quarter. Royce & Associates LP owned approximately 4.28% of Western New England Bancorp worth $7,758,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Legato Capital Management LLC lifted its position in shares of Western New England Bancorp by 39.0% in the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock worth $148,000 after buying an additional 6,021 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of 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 worth $170,000 after buying an additional 7,482 shares during the last quarter. ST Germain D J Co. Inc. lifted its position 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 worth $221,000 after buying an additional 10,006 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Western New England Bancorp in the 1st quarter worth about $85,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Western New England Bancorp by 48.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider’s stock worth $419,000 after buying an additional 16,158 shares during the last quarter. 67.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Seaport Res Ptn cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Janney Montgomery Scott cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Piper Sandler increased their price objective on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, July 24th.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $8.90 on Monday. The stock has a market cap of $187.06 million, a price-to-earnings ratio of 17.12 and a beta of 0.68. 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’s 50-day moving average price is $8.69 and its two-hundred day moving average price is $7.81. Western New England Bancorp, Inc. has a 52 week low of $6.00 and a 52 week high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company 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%. On average, analysts expect that Western New England Bancorp, Inc. will post 0.52 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

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

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.