Short Interest in Western New England Bancorp, Inc. (NASDAQ:WNEB) Expands By 49.2%

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 89,800 shares, an increase of 49.2% from the March 31st total of 60,200 shares. Based on an average daily volume of 41,700 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.5% of the shares of the company are short sold.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in Western New England Bancorp by 808.9% during the 4th quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 4,465 shares during the period. Essex Financial Services Inc. raised its position in shares of Western New England Bancorp by 14.2% during the 3rd quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 1,929 shares during the period. Raymond James & Associates lifted its stake in shares of Western New England Bancorp by 10.3% during the 3rd quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,081 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in Western New England Bancorp by 19.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock worth $170,000 after buying an additional 3,585 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Western New England Bancorp by 6.8% during the third quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 1,838 shares during the period. 67.95% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Trading Down 3.2 %

NASDAQ:WNEB opened at $6.45 on Friday. Western New England Bancorp has a 12 month low of $5.58 and a 12 month high of $9.25. The company has a 50 day simple moving average of $7.50 and a two-hundred day simple moving average of $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. The company has a market cap of $140.03 million, a PE ratio of 10.75 and a beta of 0.61.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly 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 business had revenue of $18.89 million during the quarter, compared to the consensus estimate of $18.67 million. Western New England Bancorp had a return on equity of 5.44% and a net margin of 11.10%. Research analysts forecast that Western New England Bancorp will post 0.51 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Tuesday, May 7th. Western New England Bancorp’s payout ratio is 46.67%.

Western New England Bancorp Company Profile

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.