Western New England Bancorp, Inc. (NASDAQ:WNEB) Short Interest Down 19.6% in October

Western New England Bancorp, Inc. (NASDAQ:WNEB - Get Free Report) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 52,500 shares, a decrease of 19.6% from the October 15th total of 65,300 shares. Based on an average daily trading volume, of 34,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.3% of the company's shares are short sold.

Analysts Set New Price Targets

A number of research firms have issued reports on WNEB. Piper Sandler boosted their target price on 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. Seaport Res Ptn cut Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 24th. Finally, Janney Montgomery Scott lowered shares of Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Thursday, July 25th.

Western New England Bancorp Stock Up 0.2 %

Shares of NASDAQ:WNEB traded up $0.02 during mid-day trading on Friday, reaching $8.92. 14,497 shares of the stock were exchanged, compared to its average volume of 38,188. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.62. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25. The company has a market cap of $187.50 million, a P/E ratio of 17.12 and a beta of 0.68. The stock's 50 day simple moving average is $8.69 and its 200-day simple moving average is $7.77.

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

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.07 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.28 dividend on an annualized basis and a yield of 3.14%. Western New England Bancorp's dividend payout ratio is 53.85%.

Institutional Investors Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in WNEB. Janney Montgomery Scott LLC bought a new position in shares of Western New England Bancorp during the 1st quarter worth approximately $85,000. Legato Capital Management LLC raised its position in shares of Western New England Bancorp by 39.0% in the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 6,021 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Western New England Bancorp by 50.9% during the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider's stock worth $170,000 after buying an additional 7,482 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Western New England Bancorp during the 2nd quarter worth about $170,000. Finally, ST Germain D J Co. Inc. grew its stake in Western New England Bancorp by 45.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider's stock valued at $221,000 after buying an additional 10,006 shares during the last quarter. Institutional investors own 67.95% of the company's stock.

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.