Western New England Bancorp, Inc. (NASDAQ:WNEB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) by 26.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,145 shares of the financial services provider’s stock after selling 9,783 shares during the period. Bank of New York Mellon Corp owned 0.13% of Western New England Bancorp worth $187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ST Germain D J Co. Inc. increased its stake in Western New England Bancorp by 19.3% in the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 3,585 shares during the last quarter. Hennessy Advisors Inc. grew its position in shares of Western New England Bancorp by 5.9% in the 1st quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider’s stock valued at $3,045,000 after buying an additional 22,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Western New England Bancorp in the 1st quarter valued at $85,000. Empowered Funds LLC raised its stake in Western New England Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 70,125 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 5,250 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Western New England Bancorp by 8.5% in the first quarter. Acadian Asset Management LLC now owns 344,810 shares of the financial services provider’s stock valued at $2,643,000 after acquiring an additional 26,960 shares during the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Trading Up 0.7 %

NASDAQ WNEB opened at $8.67 on Friday. The firm’s fifty day moving average is $8.41 and its two-hundred day moving average is $7.42. Western New England Bancorp, Inc. has a one year low of $6.00 and a one year high of $9.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $187.51 million, a PE ratio of 14.45 and a beta of 0.69.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $30.64 million for the quarter, compared to analysts’ expectations of $18.22 million. Analysts expect that Western New England Bancorp, Inc. will post 0.53 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 46.67%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Piper Sandler raised their price target on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

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.