Short Interest in Western New England Bancorp, Inc. (NASDAQ:WNEB) Expands By 19.7%

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 60,800 shares, a growth of 19.7% from the February 13th total of 50,800 shares. Based on an average daily trading volume, of 54,900 shares, the short-interest ratio is presently 1.1 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Seaport Res Ptn upgraded shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $9.06 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.95. Western New England Bancorp has a 1 year low of $6.00 and a 1 year high of $10.08. The stock’s 50-day moving average is $9.24 and its two-hundred day moving average is $9.05. The firm has a market cap of $187.98 million, a price-to-earnings ratio of 16.18 and a beta of 0.71.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Western New England Bancorp had a net margin of 9.51% and a return on equity of 4.91%. During the same period in the prior year, the business posted $0.12 earnings per share. Analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, February 12th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Trading of Western New England Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC grew its stake in shares of Western New England Bancorp by 483.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 6,060 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Western New England Bancorp during the 4th quarter worth $108,000. Y Intercept Hong Kong Ltd purchased a new position in Western New England Bancorp during the 4th quarter worth $120,000. Raymond James Financial Inc. acquired a new stake in shares of Western New England Bancorp in the 4th quarter worth $209,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Western New England Bancorp in the fourth quarter valued at about $253,000. 67.95% of the stock is owned by hedge funds and other institutional investors.

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.