Western New England Bancorp, Inc. (NASDAQ:WNEB) Shares Purchased by White Pine Capital LLC

White Pine Capital LLC boosted its stake in Western New England Bancorp, Inc. (NASDAQ:WNEB) by 28.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 101,352 shares of the financial services provider’s stock after acquiring an additional 22,541 shares during the quarter. White Pine Capital LLC owned 0.47% of Western New England Bancorp worth $912,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its stake in Western New England Bancorp by 14.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 6,671 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Western New England Bancorp by 6.8% during the 3rd quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,838 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Western New England Bancorp by 32.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 81,972 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 20,025 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Western New England Bancorp by 8.7% during the 4th quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Western New England Bancorp by 4.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,658 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 3,353 shares during the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $7.50 target price (down previously from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.50.

Western New England Bancorp Trading Down 3.2 %

WNEB traded down $0.21 on Friday, hitting $6.45. The company had a trading volume of 34,774 shares, compared to its average volume of 41,917. The firm has a market cap of $140.03 million, a P/E ratio of 10.75 and a beta of 0.61. Western New England Bancorp, Inc. has a 1 year low of $5.58 and a 1 year high of $9.25. The company’s fifty day moving average price is $7.50 and its 200 day moving average price is $7.87. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $18.89 million during the quarter, compared to analyst estimates of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. As a group, equities analysts expect that Western New England Bancorp, Inc. will post 0.51 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, May 7th. Western New England Bancorp’s dividend payout ratio is currently 46.67%.

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.