Hennessy Advisors Inc. Has $3.21 Million Position in Western New England Bancorp (NASDAQ:WNEB)

Hennessy Advisors Inc. cut its holdings in shares of Western New England Bancorp (NASDAQ:WNEB - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,000 shares of the financial services provider's stock after selling 55,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 1.66% of Western New England Bancorp worth $3,208,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WNEB. Cubist Systematic Strategies LLC increased its position in shares of Western New England Bancorp by 483.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider's stock worth $67,000 after purchasing an additional 6,060 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Western New England Bancorp in the fourth quarter valued at $108,000. Y Intercept Hong Kong Ltd bought a new position in shares of Western New England Bancorp in the fourth quarter valued at $120,000. Raymond James Financial Inc. acquired a new position in Western New England Bancorp during the fourth quarter worth $209,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Western New England Bancorp during the fourth quarter worth $253,000. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Western New England Bancorp Stock Performance

Shares of WNEB traded down $0.05 during midday trading on Wednesday, reaching $8.65. The stock had a trading volume of 84,932 shares, compared to its average volume of 48,542. The firm has a market cap of $179.04 million, a PE ratio of 16.32 and a beta of 0.77. The firm has a 50 day simple moving average of $9.14 and a 200-day simple moving average of $9.18. Western New England Bancorp has a one year low of $6.10 and a one year high of $10.08. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.

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 for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). Western New England Bancorp had a return on equity of 4.63% and a net margin of 8.83%. The business had revenue of $28.44 million for the quarter, compared to analyst estimates of $15.58 million. As a group, sell-side analysts anticipate that Western New England Bancorp will post 0.6 EPS for the current year.

Western New England Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Wednesday, May 7th. Western New England Bancorp's payout ratio is presently 52.83%.

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.