Wells Fargo & Company MN continued to hold its position in shares of Western New England Bancorp (NASDAQ:WNEB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,555 shares of the financial services provider’s stock at the end of the first quarter. Wells Fargo & Company MN owned about 0.08% of Western New England Bancorp worth $258,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nationwide Fund Advisors boosted its position in shares of Western New England Bancorp by 32.5% in the first quarter. Nationwide Fund Advisors now owns 18,068 shares of the financial services provider’s stock valued at $190,000 after buying an additional 4,428 shares during the period. Teachers Advisors LLC purchased a new position in shares of Western New England Bancorp during the fourth quarter valued at about $328,000. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in shares of Western New England Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 181,620 shares of the financial services provider’s stock valued at $1,907,000 after buying an additional 706 shares during the period. 53.28% of the stock is owned by institutional investors and hedge funds.
Shares of Western New England Bancorp (NASDAQ:WNEB) opened at 9.95 on Friday. The company’s 50-day moving average is $10.31 and its 200 day moving average is $10.11. The company has a market capitalization of $298.30 million, a price-to-earnings ratio of 22.98 and a beta of 0.41. Western New England Bancorp has a 12 month low of $7.41 and a 12 month high of $10.95.
Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by $0.01. Western New England Bancorp had a return on equity of 5.74% and a net margin of 15.93%. The business had revenue of $16.82 million for the quarter, compared to analysts’ expectations of $16.74 million. On average, equities research analysts anticipate that Western New England Bancorp will post $0.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, August 7th. Western New England Bancorp’s dividend payout ratio is presently 30.00%.
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WNEB has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Western New England Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, May 4th. TheStreet upgraded shares of Western New England Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $11.50 price target on shares of Western New England Bancorp in a research note on Friday. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Western New England Bancorp in a research note on Wednesday, April 26th. Finally, ValuEngine upgraded shares of Western New England Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Western New England Bancorp currently has an average rating of “Buy” and a consensus price target of $11.67.
In other news, insider William J. Wagner sold 162,363 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $10.21, for a total transaction of $1,657,726.23. Following the sale, the insider now owns 341,900 shares of the company’s stock, valued at approximately $3,490,799. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by company insiders.
About Western New England Bancorp
Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.
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