Hennessy Advisors Inc. Has $2.64 Million Position in Western New England Bancorp $WNEB

Hennessy Advisors Inc. cut its holdings in Western New England Bancorp (NASDAQ:WNEB) by 24.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 220,000 shares of the financial services provider’s stock after selling 70,000 shares during the quarter. Hennessy Advisors Inc. owned about 1.07% of Western New England Bancorp worth $2,642,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WNEB. White Pine Capital LLC lifted its stake in shares of Western New England Bancorp by 1.5% in the 2nd quarter. White Pine Capital LLC now owns 168,254 shares of the financial services provider’s stock valued at $1,553,000 after purchasing an additional 2,553 shares during the period. Russell Investments Group Ltd. bought a new stake in Western New England Bancorp in the second quarter valued at about $39,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Western New England Bancorp in the second quarter valued at about $45,000. Empowered Funds LLC boosted its holdings in Western New England Bancorp by 7.0% during the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock worth $832,000 after buying an additional 5,883 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Western New England Bancorp by 12.5% during the second quarter. Bank of America Corp DE now owns 53,368 shares of the financial services provider’s stock worth $493,000 after buying an additional 5,931 shares during the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Stock Performance

WNEB stock opened at $12.62 on Friday. Western New England Bancorp has a 1-year low of $7.63 and a 1-year high of $13.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a market cap of $258.58 million, a PE ratio of 19.12 and a beta of 0.83. The business’s 50-day moving average price is $12.27 and its two-hundred day moving average price is $11.50.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Western New England Bancorp had a return on equity of 5.58% and a net margin of 10.33%.The business had revenue of $18.06 million for the quarter, compared to analyst estimates of $17.99 million. As a group, research analysts forecast that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, November 12th. Western New England Bancorp’s dividend payout ratio (DPR) is 42.42%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western New England Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.