Western New England Bancorp (NASDAQ:WNEB) Short Interest Update

Key Points

• Short interest in Western New England Bancorp surged by 607,500.0%, reaching a total of 607,600 shares, as of July 15th.
• The company recently reported $0.23 earnings per share (EPS), exceeding analysts' expectations of $0.14, with quarterly revenue of $21.05 million.
• Western New England Bancorp declared a quarterly dividend of $0.07 per share, representing a yield of 2.7% and a payout ratio of 47.46%.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 607,600 shares, anincreaseof607,500.0% from the June 30th total of 100 shares. Based on an average daily trading volume, of 115,700 shares, the short-interest ratio is presently 5.3 days. Approximately3.4% of the shares of the stock are short sold. Approximately3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 115,700 shares, the short-interest ratio is presently 5.3 days.

Western New England Bancorp Price Performance

NASDAQ WNEB traded down $0.09 during trading hours on Tuesday, reaching $10.83. 37,330 shares of the company's stock were exchanged, compared to its average volume of 85,688. The stock has a market cap of $224.19 million, a PE ratio of 18.36 and a beta of 0.82. Western New England Bancorp has a one year low of $7.42 and a one year high of $11.68. The firm has a fifty day moving average of $9.72 and a 200-day moving average of $9.35. 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 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, equities research analysts predict that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

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

Insider Activity

In other news, Director Philip R. Smith sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 10,497 shares of the company's stock, valued at approximately $113,262.63. This represents a 27.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.12% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management raised its stake in Western New England Bancorp by 332.2% during the 2nd quarter. Ritholtz Wealth Management now owns 44,586 shares of the financial services provider's stock worth $412,000 after buying an additional 34,270 shares during the period. ST Germain D J Co. Inc. increased its position in shares of Western New England Bancorp by 40.6% in the second quarter. ST Germain D J Co. Inc. now owns 27,648 shares of the financial services provider's stock valued at $255,000 after acquiring an additional 7,977 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Western New England Bancorp in the second quarter valued at about $161,000. Goldman Sachs Group Inc. increased its position in shares of Western New England Bancorp by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider's stock valued at $856,000 after acquiring an additional 24,597 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Western New England Bancorp by 190.1% in 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 last quarter. 67.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WNEB shares. Piper Sandler increased their price target 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 upgraded Western New England Bancorp from a "sell" rating to a "hold" rating in a research report 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.