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

Western New England Bancorp Inc (NASDAQ:WNEB) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 327,100 shares, an increase of 32.4% from the May 30th total of 247,000 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 39,800 shares, the short-interest ratio is presently 8.2 days.

Shares of NASDAQ:WNEB opened at $9.37 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average of $9.25. The company has a market capitalization of $252.55 million, a price-to-earnings ratio of 16.16 and a beta of 0.21. Western New England Bancorp has a 12-month low of $8.50 and a 12-month high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $16.50 million during the quarter, compared to analyst estimates of $17.01 million. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. As a group, analysts forecast that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

WNEB has been the topic of a number of recent research reports. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. DA Davidson initiated coverage on shares of Western New England Bancorp in a research report on Thursday. They set a “neutral” rating and a $10.00 target price on the stock. Finally, BidaskClub cut shares of YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $10.50.

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Western New England Bancorp by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,303,968 shares of the financial services provider’s stock worth $23,132,000 after buying an additional 59,945 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Western New England Bancorp by 5.9% in the first quarter. Deprince Race & Zollo Inc. now owns 360,281 shares of the financial services provider’s stock worth $3,325,000 after buying an additional 20,094 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Western New England Bancorp by 8.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 308,142 shares of the financial services provider’s stock worth $2,844,000 after buying an additional 23,077 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Western New England Bancorp by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 277,552 shares of the financial services provider’s stock worth $2,786,000 after buying an additional 13,954 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Western New England Bancorp by 35.7% in the fourth quarter. Rhumbline Advisers now owns 42,482 shares of the financial services provider’s stock worth $427,000 after buying an additional 11,187 shares during the last quarter. Institutional investors and hedge funds own 52.60% 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 commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.

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