Western New England Bancorp (NASDAQ:WNEB) Releases Earnings Results, Beats Expectations By $0.02 EPS

Western New England Bancorp (NASDAQ:WNEB – Get Rating) released its quarterly earnings results on Tuesday. The financial services provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02, MarketWatch Earnings reports. Western New England Bancorp had a return on equity of 10.67% and a net margin of 25.65%.

Western New England Bancorp stock traded up $0.16 during midday trading on Wednesday, reaching $8.71. The stock had a trading volume of 30 shares, compared to its average volume of 31,132. The firm’s fifty day simple moving average is $8.95 and its 200-day simple moving average is $9.03. Western New England Bancorp has a 1-year low of $7.72 and a 1-year high of $9.98. The stock has a market capitalization of $198.61 million, a P/E ratio of 8.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.

In other Western New England Bancorp news, CFO Guida R. Sajdak sold 13,068 shares of the business’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $9.20, for a total transaction of $120,225.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Guida R. Sajdak sold 4,281 shares of the business’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $9.20, for a total value of $39,385.20. The disclosure for this sale can be found here. In the last three months, insiders sold 22,769 shares of company stock worth $209,475. 4.75% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of WNEB. Morgan Stanley increased its position in shares of Western New England Bancorp by 220.7% during the 2nd quarter. Morgan Stanley now owns 69,941 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 48,129 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Western New England Bancorp by 157.6% during the 2nd quarter. Citadel Advisors LLC now owns 75,033 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 45,904 shares during the period. Two Sigma Investments LP bought a new position in shares of Western New England Bancorp during the 3rd quarter worth approximately $254,000. Susquehanna International Group LLP boosted its stake in shares of Western New England Bancorp by 35.3% during the 4th quarter. Susquehanna International Group LLP now owns 64,723 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 16,885 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Western New England Bancorp during the 4th quarter worth approximately $93,000. 52.92% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on the company. StockNews.com assumed coverage on Western New England Bancorp in a research report on Wednesday. They set a “buy” rating on the stock. Zacks Investment Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 30th.

About Western New England Bancorp (Get Rating)

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 checking, business and municipal savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyers trust accounts.

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