Western New England Bancorp (NASDAQ:WNEB) Trading Down 0.5% – Should You Sell?

Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) dropped 0.5% during mid-day trading on Thursday . The company traded as low as $9.01 and last traded at $9.15. Approximately 47,005 shares changed hands during trading, an increase of 20% from the average daily volume of 39,132 shares. The stock had previously closed at $9.20.

Western New England Bancorp Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $190.42 million, a P/E ratio of 17.42 and a beta of 0.69. The company’s 50 day moving average price is $9.17 and its 200 day moving average price is $8.47.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Western New England Bancorp had a net margin of 9.05% and a return on equity of 4.58%. The business had revenue of $30.98 million during the quarter, compared to the consensus estimate of $17.39 million. As a group, sell-side analysts anticipate that Western New England Bancorp, Inc. will post 0.52 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.07 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.28 dividend on an annualized basis and a yield of 3.09%. Western New England Bancorp’s dividend payout ratio is presently 53.85%.

Insider Activity at Western New England Bancorp

In other news, SVP Darlene M. Libiszewski sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $9.18, for a total transaction of $45,900.00. Following the completion of the sale, the senior vice president now owns 16,020 shares of the company’s stock, valued at $147,063.60. This represents a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of large investors have recently added to or reduced their stakes in WNEB. Barclays PLC boosted its position in Western New England Bancorp by 23.8% during the 3rd quarter. Barclays PLC now owns 44,422 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 8,532 shares during the last quarter. Fourthstone LLC boosted its holdings in Western New England Bancorp by 372.5% during the third quarter. Fourthstone LLC now owns 769,807 shares of the financial services provider’s stock worth $6,543,000 after purchasing an additional 606,897 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Western New England Bancorp by 16.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,605 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 11,936 shares in the last quarter. Empowered Funds LLC grew its position in Western New England Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 79,545 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Western New England Bancorp by 48.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider’s stock valued at $419,000 after buying an additional 16,158 shares during the last quarter. Institutional investors 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.