Western New England Bancorp, Inc. (NASDAQ:WNEB) Stake Increased by Acadian Asset Management LLC

Acadian Asset Management LLC increased its holdings in shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) by 16.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,909 shares of the financial services provider’s stock after buying an additional 57,099 shares during the quarter. Acadian Asset Management LLC owned 1.86% of Western New England Bancorp worth $2,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. boosted its position in Western New England Bancorp by 7.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider’s stock worth $2,924,000 after acquiring an additional 28,000 shares during the period. Empowered Funds LLC boosted its holdings in shares of Western New England Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 70,125 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 5,250 shares during the period. ST Germain D J Co. Inc. grew its position in Western New England Bancorp by 45.2% during the second quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 10,006 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Western New England Bancorp in the 2nd quarter valued at approximately $170,000. Finally, Quadrature Capital Ltd lifted its position in 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 in the last quarter. 67.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WNEB shares. Seaport Res Ptn downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price target on Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.00.

Western New England Bancorp Trading Up 0.9 %

Shares of NASDAQ:WNEB opened at $8.73 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $186.12 million, a PE ratio of 14.42 and a beta of 0.69. Western New England Bancorp, Inc. has a 1 year low of $6.00 and a 1 year high of $9.25. The firm has a fifty day moving average price of $8.15 and a 200 day moving average price of $7.38.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. The business had revenue of $30.64 million for the quarter, compared to analyst estimates of $18.22 million. Analysts expect that Western New England Bancorp, Inc. will post 0.53 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 7th. Western New England Bancorp’s payout ratio is 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.