American International Group Inc. raised its stake in shares of Western New England Bancorp (NASDAQ:WNEB) by 49.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,691 shares of the financial services provider’s stock after buying an additional 4,540 shares during the period. American International Group Inc.’s holdings in Western New England Bancorp were worth $144,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. 1st Global Advisors Inc. acquired a new position in shares of Western New England Bancorp during the first quarter valued at $121,000. 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 last quarter. Trexquant Investment LP acquired a new position in shares of Western New England Bancorp during the first quarter valued at $201,000. First Trust Advisors LP acquired a new position in shares of Western New England Bancorp during the first quarter valued at $225,000. Finally, Teachers Advisors LLC acquired a new position in shares of Western New England Bancorp during the fourth quarter valued at $328,000. 53.42% of the stock is currently owned by institutional investors and hedge funds.
Western New England Bancorp (NASDAQ:WNEB) opened at 9.90 on Friday. Western New England Bancorp has a 52-week low of $7.41 and a 52-week high of $10.95. The company has a market cap of $296.80 million, a PE ratio of 22.86 and a beta of 0.40. The firm’s 50 day moving average is $10.27 and its 200 day moving average is $10.14.
Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $16.74 million. Western New England Bancorp had a return on equity of 5.74% and a net margin of 15.93%. Analysts forecast that Western New England Bancorp will post $0.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Monday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 30.00%.
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WNEB has been the topic of several recent research reports. TheStreet raised shares of Western New England Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Zacks Investment Research raised shares of Western New England Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, May 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $11.50 price target on shares of Western New England Bancorp in a research report on Friday, July 28th. ValuEngine raised shares of Western New England Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Western New England Bancorp in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $11.67.
In other Western New England Bancorp news, insider William J. Wagner sold 162,363 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $10.21, for a total value of $1,657,726.23. Following the sale, the insider now owns 341,900 shares in the company, valued at $3,490,799. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by corporate 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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