683 Capital Management LLC Takes $366,000 Position in Western New England Bancorp, Inc. (NASDAQ:WNEB)

683 Capital Management LLC acquired a new position in shares of Western New England Bancorp, Inc. (NASDAQ:WNEB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,751 shares of the financial services provider's stock, valued at approximately $366,000. 683 Capital Management LLC owned about 0.19% of Western New England Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Western New England Bancorp in the fourth quarter valued at $120,000. Raymond James Financial Inc. bought a new stake in Western New England Bancorp in the fourth quarter worth about $209,000. Schonfeld Strategic Advisors LLC bought a new stake in Western New England Bancorp in the fourth quarter worth about $253,000. Jane Street Group LLC purchased a new position in shares of Western New England Bancorp during the fourth quarter valued at approximately $256,000. Finally, Alliancebernstein L.P. bought a new position in shares of Western New England Bancorp during the fourth quarter valued at approximately $327,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Price Performance

WNEB remained flat at $9.47 on Tuesday. 230,747 shares of the company were exchanged, compared to its average volume of 45,879. The firm has a market capitalization of $197.08 million, a P/E ratio of 16.91 and a beta of 0.74. 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, Inc. has a one year low of $6.09 and a one year high of $10.08. The firm has a 50 day moving average price of $8.96 and a two-hundred day moving average price of $9.09.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The firm had revenue of $28.44 million during the quarter, compared to analysts' expectations of $15.58 million. Western New England Bancorp had a net margin of 9.51% and a return on equity of 4.91%. On average, equities analysts forecast that Western New England Bancorp, Inc. will post 0.6 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.28 annualized dividend and a dividend yield of 2.96%. Western New England Bancorp's payout ratio is currently 52.83%.

Analysts Set New Price Targets

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

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.