Western New England Bancorp, Inc. (NASDAQ:WNEB) Sees Significant Growth in Short Interest

Western New England Bancorp, Inc. (NASDAQ:WNEB - Get Free Report) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 67,000 shares, a growth of 61.1% from the November 15th total of 41,600 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 36,300 shares, the days-to-cover ratio is presently 1.8 days.

Western New England Bancorp Stock Performance

Shares of WNEB traded up $0.27 during mid-day trading on Thursday, reaching $9.98. 41,966 shares of the company's stock traded hands, compared to its average volume of 39,214. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.95. The business's 50-day moving average price is $8.96 and its 200-day moving average price is $8.16. The stock has a market capitalization of $209.76 million, a P/E ratio of 19.19 and a beta of 0.69. Western New England Bancorp has a 12 month low of $6.00 and a 12 month high of $10.04.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The business had revenue of $30.98 million for the quarter, compared to analyst estimates of $17.39 million. Western New England Bancorp had a return on equity of 4.58% and a net margin of 9.05%. Equities analysts predict that Western New England Bancorp will post 0.52 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.28 annualized dividend and a yield of 2.81%. Western New England Bancorp's payout ratio is 53.85%.

Insider Activity at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $9.18, for a total value of $45,900.00. Following the sale, the senior vice president now owns 16,020 shares of the company's stock, valued at $147,063.60. This trade represents a 23.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company's stock.

Institutional Trading of Western New England Bancorp

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of Western New England Bancorp by 2.8% during the second quarter. Renaissance Technologies LLC now owns 1,200,362 shares of the financial services provider's stock valued at $8,258,000 after acquiring an additional 32,700 shares during the period. Fourthstone LLC raised its stake in shares of Western New England Bancorp by 372.5% in the 3rd quarter. Fourthstone LLC now owns 769,807 shares of the financial services provider's stock worth $6,543,000 after buying an additional 606,897 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Western New England Bancorp by 7.1% in the second quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider's stock valued at $2,924,000 after buying an additional 28,000 shares during the period. Acadian Asset Management LLC boosted its stake in Western New England Bancorp by 16.6% during the second quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider's stock valued at $2,762,000 after buying an additional 57,099 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Western New England Bancorp by 16.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,605 shares of the financial services provider's stock worth $702,000 after acquiring an additional 11,936 shares during the period. 67.95% of the stock is owned by institutional investors and hedge funds.

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.