Philip R. Smith Sells 4,000 Shares of Western New England Bancorp (NASDAQ:WNEB) Stock

Key Points

• Director Philip R. Smith sold 4,000 shares of Western New England Bancorp stock for a total value of $43,160, reducing his stake by 27.59%.
• The company reported $0.23 EPS for the last quarter, exceeding analysts' expectations of $0.14 EPS, with revenue of $21.05 million compared to estimated $16.35 million.
• Western New England Bancorp declared a quarterly dividend of $0.07 per share, set to be paid on August 20th, representing a 2.6% dividend yield.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) Director Philip R. Smith sold 4,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $10.79, for a total value of $43,160.00. Following the completion of the sale, the director owned 10,497 shares of the company's stock, valued at approximately $113,262.63. This trade represents a 27.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Western New England Bancorp Stock Performance

Shares of WNEB stock traded down $0.08 during mid-day trading on Thursday, reaching $10.65. The stock had a trading volume of 61,316 shares, compared to its average volume of 85,722. The firm's 50 day simple moving average is $9.63 and its 200 day simple moving average is $9.31. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. Western New England Bancorp has a one year low of $7.38 and a one year high of $11.68. The firm has a market cap of $220.57 million, a PE ratio of 18.05 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.09. The firm had revenue of $21.05 million for the quarter, compared to analyst estimates of $16.35 million. Western New England Bancorp had a return on equity of 5.08% and a net margin of 9.51%. On average, analysts forecast that Western New England Bancorp will post 0.6 EPS for the current year.

Western New England Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.6%. Western New England Bancorp's dividend payout ratio (DPR) is currently 47.46%.

Wall Street Analyst Weigh In

WNEB has been the subject of several research analyst reports. Piper Sandler upped their price objective on Western New England Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wall Street Zen raised Western New England Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Institutional Trading of Western New England Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of WNEB. Raymond James Financial Inc. acquired a new position in Western New England Bancorp during the fourth quarter worth approximately $209,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Western New England Bancorp by 22.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 186,592 shares of the financial services provider's stock valued at $1,717,000 after buying an additional 34,297 shares during the period. Alliancebernstein L.P. acquired a new position in Western New England Bancorp during the fourth quarter valued at approximately $327,000. Barclays PLC increased its holdings in shares of Western New England Bancorp by 30.9% during the fourth quarter. Barclays PLC now owns 58,165 shares of the financial services provider's stock worth $534,000 after buying an additional 13,743 shares in the last quarter. Finally, Fourthstone LLC increased its holdings in shares of Western New England Bancorp by 18.3% during the fourth quarter. Fourthstone LLC now owns 910,788 shares of the financial services provider's stock worth $8,379,000 after buying an additional 140,981 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company's stock.

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.

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