Key Points
- Director Philip Smith sold 3,300 WNEB shares at an average price of $13.88, generating $45,804 and reducing his holdings by 36.26% to 5,800 shares.
- WNEB shares opened at $13.89, while the company’s latest quarterly EPS of $0.18 missed estimates of $0.24; revenue of $27.11 million exceeded expectations.
- The company pays a quarterly dividend of $0.07, equivalent to an annualized yield of 2.0%. Analysts have a consensus “Hold” rating with an average price target of $15.50, while institutional investors own 67.95% of the stock.
Western New England Bancorp (NASDAQ:WNEB - Get Free Report) Director Philip Smith sold 3,300 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total transaction of $45,804.00. Following the completion of the sale, the director owned 5,800 shares in the company, valued at approximately $80,504. The trade was a 36.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Western New England Bancorp Stock Up 1.3%
Shares of WNEB opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $278.44 million, a price-to-earnings ratio of 16.54 and a beta of 0.77. Western New England Bancorp has a 1 year low of $10.78 and a 1 year high of $15.01. The business's 50 day simple moving average is $14.00 and its 200-day simple moving average is $13.60.
Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. The business had revenue of $27.11 million for the quarter, compared to analysts' expectations of $22.74 million. As a group, equities analysts expect that Western New England Bancorp will post 0.94 earnings per share for the current fiscal year.
Western New England Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a $0.07 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Western New England Bancorp's dividend payout ratio (DPR) is currently 33.33%.
Institutional Trading of Western New England Bancorp
A number of large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Western New England Bancorp during the second quarter valued at $26,266,000. Geode Capital Management LLC grew its holdings in Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider's stock worth $4,007,000 after acquiring an additional 220,852 shares in the last quarter. Empowered Funds LLC bought a new position in Western New England Bancorp during the 2nd quarter worth about $1,636,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Western New England Bancorp during the 2nd quarter valued at about $1,516,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at about $968,000. Hedge funds and other institutional investors own 67.95% of the company's stock.
Analyst Ratings Changes
WNEB has been the subject of several analyst reports. Piper Sandler raised their target price on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Zacks Research cut Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Seaport Research Partners downgraded Western New England Bancorp from a "buy" rating to a "neutral" rating in a report on Wednesday, July 29th. Finally, Wall Street Zen cut Western New England Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.50.
Read Our Latest Report on WNEB
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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