Short Interest in Western New England Bancorp, Inc. (NASDAQ:WNEB) Increases By 49.2%

Western New England Bancorp, Inc. (NASDAQ:WNEB) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 89,800 shares, an increase of 49.2% from the March 31st total of 60,200 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 41,700 shares, the short-interest ratio is currently 2.2 days.

Western New England Bancorp Trading Down 3.2 %

Shares of Western New England Bancorp stock opened at $6.45 on Friday. The firm has a market cap of $140.03 million, a PE ratio of 10.75 and a beta of 0.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. Western New England Bancorp has a fifty-two week low of $5.58 and a fifty-two week high of $9.25. The business’s fifty day moving average is $7.50 and its two-hundred day moving average is $7.88.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.28 annualized dividend and a yield of 4.34%. Western New England Bancorp’s dividend payout ratio (DPR) is presently 46.67%.

Institutional Trading of Western New England Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WNEB. International Assets Investment Management LLC lifted its holdings in shares of Western New England Bancorp by 808.9% during the 4th quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 4,465 shares during the period. Essex Financial Services Inc. raised its stake in Western New England Bancorp by 14.2% during the third quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 1,929 shares during the period. ST Germain D J Co. Inc. boosted its holdings in shares of Western New England Bancorp by 19.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 3,585 shares during the last quarter. Raymond James & Associates grew its stake in shares of Western New England Bancorp by 10.3% during the 3rd quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,081 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in shares of Western New England Bancorp by 8.7% during the 4th quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock worth $216,000 after buying an additional 1,917 shares during the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $7.50 price target (down from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.50.

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.