Philip Smith Sells 3,300 Shares of Western New England Bancorp (NASDAQ:WNEB) Stock

Key Points

• Director Philip Smith sold 3,300 WNEB shares at an average price of $13.88, generating $45,804 and reducing his direct holdings by 36.26% to 5,800 shares.
• WNEB shares rose 1.3% to $13.89, while the company reported quarterly EPS of $0.18—below the $0.24 consensus estimate—despite revenue of $27.11 million exceeding expectations.
• Western New England Bancorp maintains a quarterly dividend of $0.07, equivalent to a 2.0% annual yield. Analysts’ consensus rating is “Hold,” with a $15.50 price target.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) Director Philip Smith sold 3,300 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total transaction of $45,804.00. Following the completion of the sale, the director directly owned 5,800 shares of the company's stock, valued at $80,504. The trade was a 36.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Western New England Bancorp Stock Up 1.3%

WNEB stock traded up $0.18 during trading on Friday, hitting $13.89. 77,515 shares of the company's stock traded hands, compared to its average volume of 57,234. The firm has a market capitalization of $278.49 million, a P/E ratio of 16.54 and a beta of 0.77. Western New England Bancorp has a 1 year low of $10.78 and a 1 year high of $15.01. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $14.01 and a two-hundred day simple moving average of $13.60.

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

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Western New England Bancorp's payout ratio is presently 33.33%.

Institutional Trading of Western New England Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WNEB. California State Teachers Retirement System grew its stake in Western New England Bancorp by 265.5% during the 2nd quarter. California State Teachers Retirement System now owns 3,589 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 2,607 shares during the last quarter. Odyssean LLC acquired a new stake in shares of Western New England Bancorp during the second quarter worth about $177,000. Empowered Funds LLC acquired a new stake in shares of Western New England Bancorp during the second quarter worth about $1,636,000. Bank of America Corp DE purchased a new stake in Western New England Bancorp in the second quarter valued at approximately $829,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Western New England Bancorp in the second quarter valued at approximately $1,516,000. Institutional investors and hedge funds own 67.95% of the company's stock.

Wall Street Analysts Forecast Growth

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