Empowered Funds LLC Makes New Investment in Western New England Bancorp $WNEB

Key Points

• Empowered Funds LLC acquired 114,436 shares of Western New England Bancorp in the second quarter, valued at about $1.64 million and representing roughly 0.57% of the company. BlackRock and several other institutions also initiated positions, with institutional investors collectively owning 67.95% of shares.
• Western New England Bancorp reported quarterly EPS of $0.18, missing the $0.24 consensus estimate, while revenue of $27.11 million exceeded forecasts. Analysts project full-year EPS of $0.94.
• The bank maintains a quarterly dividend of $0.07 per share, equivalent to a 2.0% yield. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $15.50 versus the reported share price of $13.71.

Empowered Funds LLC purchased a new position in shares of Western New England Bancorp (NASDAQ:WNEB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 114,436 shares of the financial services provider's stock, valued at approximately $1,636,000. Empowered Funds LLC owned about 0.57% of Western New England Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in Western New England Bancorp in the 2nd quarter worth approximately $829,000. Odyssean LLC purchased a new stake in Western New England Bancorp during the 2nd quarter worth approximately $177,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Western New England Bancorp during the 2nd quarter valued at approximately $1,516,000. Vise Technologies Inc. acquired a new position in Western New England Bancorp during the 2nd quarter valued at approximately $215,000. Finally, BlackRock Inc. purchased a new position in shares of Western New England Bancorp in the second quarter worth $26,266,000. 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 $13.71 on Friday. Western New England Bancorp has a twelve month low of $10.78 and a twelve month high of $15.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $274.89 million, a PE ratio of 16.32 and a beta of 0.77. The company's 50 day moving average is $14.01 and its 200 day moving average is $13.60.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). The business had revenue of $27.11 million for the quarter, compared to analyst estimates of $22.74 million. Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%. On average, sell-side analysts forecast that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 12th. Western New England Bancorp's dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

Several equities research analysts have recently commented on WNEB shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Western New England Bancorp in a research note on Friday, August 7th. Zacks Research downgraded Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Wall Street Zen lowered Western New England Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Seaport Research Partners lowered Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 29th. Finally, Piper Sandler lifted their price target on Western New England Bancorp from $15.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.50.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company's core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.

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