Royce & Associates LP Has $7.76 Million Stake in Western New England Bancorp, Inc. (NASDAQ:WNEB)

Royce & Associates LP reduced its holdings in Western New England Bancorp, Inc. (NASDAQ:WNEB - Free Report) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 912,731 shares of the financial services provider's stock after selling 80,380 shares during the quarter. Royce & Associates LP owned about 4.28% of Western New England Bancorp worth $7,758,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in Western New England Bancorp by 16.6% in the 2nd quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider's stock valued at $2,762,000 after purchasing an additional 57,099 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Western New England Bancorp by 2.8% in 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 buying an additional 32,700 shares during the period. Hennessy Advisors Inc. grew its position in Western New England Bancorp by 7.1% during the second quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider's stock worth $2,924,000 after buying an additional 28,000 shares in the last quarter. Panagora Asset Management Inc. bought a new position in Western New England Bancorp during the second quarter valued at about $170,000. Finally, Assenagon Asset Management S.A. raised its holdings in Western New England Bancorp by 48.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider's stock valued at $419,000 after acquiring an additional 16,158 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Price Performance

WNEB stock traded down $0.03 during trading on Monday, hitting $8.87. The company had a trading volume of 22,252 shares, compared to its average volume of 38,197. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $8.69 and a two-hundred day moving average price of $7.82. Western New England Bancorp, Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $9.25. The company has a market cap of $186.45 million, a P/E ratio of 17.08 and a beta of 0.68.

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

Western New England Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.28 dividend on an annualized basis and a yield of 3.16%. Western New England Bancorp's dividend payout ratio (DPR) is presently 53.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WNEB shares. Janney Montgomery Scott lowered Western New England Bancorp from a "buy" rating to a "neutral" rating in a report on Thursday, July 25th. Piper Sandler increased their price objective on shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn lowered shares of Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 24th.

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.