Connor Clark & Lunn Investment Management Ltd. Buys 13,019 Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Western New England Bancorp, Inc. (NASDAQ:WNEB) by 15.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,624 shares of the financial services provider’s stock after buying an additional 13,019 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.45% of Western New England Bancorp worth $880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fourthstone LLC grew its holdings in Western New England Bancorp by 372.5% in the 3rd quarter. Fourthstone LLC now owns 769,807 shares of the financial services provider’s stock valued at $6,543,000 after buying an additional 606,897 shares during the last quarter. Empowered Funds LLC grew its holdings in Western New England Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 83,595 shares of the financial services provider’s stock valued at $769,000 after buying an additional 4,050 shares during the last quarter. Barclays PLC grew its holdings in Western New England Bancorp by 23.8% in the 3rd quarter. Barclays PLC now owns 44,422 shares of the financial services provider’s stock valued at $378,000 after buying an additional 8,532 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Western New England Bancorp during the 4th quarter worth approximately $209,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Western New England Bancorp during the 4th quarter worth approximately $120,000. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Price Performance

Shares of NASDAQ:WNEB opened at $9.15 on Friday. Western New England Bancorp, Inc. has a 1-year low of $6.00 and a 1-year high of $10.08. The firm has a market capitalization of $189.84 million, a PE ratio of 16.34 and a beta of 0.71. The business’s 50 day moving average is $9.25 and its 200-day moving average is $9.05. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. During the same quarter last year, the firm posted $0.12 EPS. Sell-side analysts predict that Western New England Bancorp, Inc. will post 0.6 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, February 26th. Investors of record on Wednesday, February 12th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.06%. The ex-dividend date was Wednesday, February 12th. Western New England Bancorp’s dividend payout ratio is 50.00%.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn raised Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th.

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.