Western New England Bancorp (NASDAQ:WNEB - Get Free Report) Director Philip Smith sold 3,000 shares of Western New England Bancorp stock in a transaction on Friday, February 27th. The stock was sold at an average price of $13.17, for a total transaction of $39,510.00. Following the transaction, the director directly owned 7,497 shares in the company, valued at $98,735.49. This represents a 28.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Western New England Bancorp Stock Performance
NASDAQ WNEB opened at $12.95 on Tuesday. The company has a fifty day moving average price of $13.23 and a 200-day moving average price of $12.46. The firm has a market cap of $265.35 million, a price-to-earnings ratio of 17.04 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. Western New England Bancorp has a 1 year low of $7.63 and a 1 year high of $14.52.
Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. Western New England Bancorp had a net margin of 11.64% and a return on equity of 6.36%. The business had revenue of $22.01 million for the quarter, compared to analysts' expectations of $18.62 million. As a group, equities research analysts predict that Western New England Bancorp will post 0.6 EPS for the current fiscal year.
Western New England Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 11th. Western New England Bancorp's dividend payout ratio (DPR) is presently 36.84%.
Analysts Set New Price Targets
A number of research analysts have issued reports on WNEB shares. Zacks Research upgraded Western New England Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Western New England Bancorp in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.00.
Read Our Latest Analysis on Western New England Bancorp
Institutional Trading of Western New England Bancorp
Several hedge funds have recently made changes to their positions in WNEB. Russell Investments Group Ltd. purchased a new position in shares of Western New England Bancorp during the 2nd quarter valued at $39,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Western New England Bancorp during the second quarter valued at about $45,000. BNP Paribas Financial Markets boosted its position in Western New England Bancorp by 95.7% during the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider's stock worth $60,000 after purchasing an additional 2,446 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Western New England Bancorp by 51,300.0% in the second quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider's stock worth $81,000 after purchasing an additional 8,721 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Western New England Bancorp in the second quarter valued at approximately $93,000. 67.95% of the stock is currently owned by institutional investors.
Western New England Bancorp Company Profile
(
Get Free Report)
Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.
The company's core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.
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