Royce & Associates LP Sells 191,268 Shares of Western New England Bancorp (NASDAQ:WNEB)

Key Points

• Royce & Associates LP has reduced its holdings in Western New England Bancorp (NASDAQ:WNEB) by 22.4%, now owning approximately 3.19% of the company worth $6.18 million after selling 191,268 shares.
• A number of institutional investors have recently adjusted their stakes in Western New England Bancorp, with Millennium Management LLC increasing its stake by 2.2% and Janney Montgomery Scott LLC raising theirs by 28.0%.
• Western New England Bancorp reported earnings of $0.23 per share for the last quarter, surpassing the anticipated estimate of $0.14, and announced a quarterly dividend of $0.07 to be paid on August 20th.

Royce & Associates LP lessened its holdings in Western New England Bancorp (NASDAQ:WNEB - Free Report) by 22.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 664,313 shares of the financial services provider's stock after selling 191,268 shares during the period. Royce & Associates LP owned approximately 3.19% of Western New England Bancorp worth $6,178,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its position in Western New England Bancorp by 483.3% in the fourth 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 in the last quarter. Balyasny Asset Management L.P. acquired a new position in Western New England Bancorp in the fourth quarter worth about $108,000. Janney Montgomery Scott LLC raised its position in Western New England Bancorp by 28.0% in the first quarter. Janney Montgomery Scott LLC now owns 14,180 shares of the financial services provider's stock worth $132,000 after purchasing an additional 3,100 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Western New England Bancorp in the fourth quarter worth about $209,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Western New England Bancorp in the fourth quarter worth about $253,000. Institutional investors and hedge funds own 67.95% of the company's stock.

Western New England Bancorp Price Performance

Western New England Bancorp stock traded up $0.04 during trading hours on Wednesday, hitting $11.09. 6,607 shares of the stock were exchanged, compared to its average volume of 85,541. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $229.57 million, a P/E ratio of 18.79 and a beta of 0.75. Western New England Bancorp has a 12 month low of $7.38 and a 12 month high of $11.68. The business's 50-day moving average is $9.61 and its two-hundred day moving average is $9.30.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.09. The firm had revenue of $21.05 million for the quarter, compared to analysts' expectations of $16.35 million. Western New England Bancorp had a net margin of 9.51% and a return on equity of 5.08%. Equities research analysts expect that Western New England Bancorp will post 0.6 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.53%. Western New England Bancorp's dividend payout ratio (DPR) is currently 47.46%.

Analyst Ratings Changes

Several research firms recently issued reports on WNEB. Piper Sandler increased their price target on shares of Western New England Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Western New England Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday.

Western New England Bancorp 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.