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 firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $10.79, for a total value of $43,160.00. Following the completion of the sale, the director directly 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 through this hyperlink.

Western New England Bancorp Stock Up 4.0%

Shares of WNEB traded up $0.42 during midday trading on Monday, reaching $10.76. 51,595 shares of the stock were exchanged, compared to its average volume of 85,553. Western New England Bancorp has a 12-month low of $7.38 and a 12-month high of $11.68. The firm has a 50 day simple moving average of $9.69 and a 200-day simple moving average of $9.34. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market cap of $222.78 million, a price-to-earnings ratio of 18.31 and a beta of 0.82.

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

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.6%. Western New England Bancorp's payout ratio is presently 47.46%.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors have recently made changes to their positions in WNEB. Susquehanna International Group LLP increased its stake in shares of Western New England Bancorp by 186.2% in the fourth quarter. Susquehanna International Group LLP now owns 284,223 shares of the financial services provider's stock worth $2,615,000 after purchasing an additional 184,907 shares during the period. Fourthstone LLC increased its stake in 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 valued at $8,379,000 after acquiring an additional 140,981 shares during the period. Jane Street Group LLC increased its stake in Western New England Bancorp by 190.1% during the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider's stock valued at $750,000 after acquiring an additional 52,858 shares during the period. 683 Capital Management LLC bought a new position in Western New England Bancorp during the fourth quarter valued at about $366,000. Finally, Alliancebernstein L.P. bought a new position in Western New England Bancorp during the fourth quarter valued at about $327,000. 67.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on WNEB shares. Piper Sandler raised their target price on 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 Western New England Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th.

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.