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

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 89,800 shares, an increase of 49.2% from the March 31st total of 60,200 shares. Based on an average trading volume of 41,700 shares, the short-interest ratio is presently 2.2 days. Currently, 0.5% of the company’s shares are short sold.

Institutional Trading of Western New England Bancorp

Several institutional investors have recently added to or reduced their stakes in WNEB. International Assets Investment Management LLC raised its holdings in shares of Western New England Bancorp by 808.9% in the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after buying an additional 4,465 shares during the period. Essex Financial Services Inc. increased its stake in Western New England Bancorp by 14.2% in the third quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 1,929 shares during the period. Raymond James & Associates lifted its position in shares of Western New England Bancorp by 10.3% during the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 2,081 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Western New England Bancorp by 19.3% during the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 3,585 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Western New England Bancorp by 6.8% in the third quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors own 67.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reissued a “neutral” rating and set a $7.50 price objective (down from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.50.

Western New England Bancorp Trading Down 3.2 %

Shares of WNEB opened at $6.45 on Friday. The company’s fifty day simple moving average is $7.50 and its 200-day simple moving average is $7.88. The company has a market cap of $140.03 million, a P/E ratio of 10.75 and a beta of 0.61. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59. Western New England Bancorp has a twelve month low of $5.58 and a twelve month high of $9.25.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, May 7th. Western New England Bancorp’s dividend payout ratio (DPR) is currently 46.67%.

About Western New England Bancorp

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.