Federated Hermes Inc. Raises Stake in Western New England Bancorp, Inc. (NASDAQ:WNEB)

Federated Hermes Inc. increased its stake in Western New England Bancorp, Inc. (NASDAQ:WNEB) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,218 shares of the financial services provider’s stock after purchasing an additional 2,656 shares during the quarter. Federated Hermes Inc.’s holdings in Western New England Bancorp were worth $1,514,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WNEB. International Assets Investment Management LLC boosted its holdings in Western New England Bancorp by 808.9% during the fourth quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock worth $45,000 after buying an additional 4,465 shares in the last quarter. Ritholtz Wealth Management boosted its stake 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 acquiring an additional 1,917 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Western New England Bancorp by 32.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 81,972 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 20,025 shares in the last quarter. Essex Financial Services Inc. grew its holdings in shares of Western New England Bancorp by 14.2% in the 3rd quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 1,929 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in Western New England Bancorp by 14.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 6,671 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Stock Down 2.6 %

Shares of NASDAQ WNEB opened at $6.28 on Tuesday. The firm’s 50-day moving average is $7.46 and its two-hundred day moving average is $7.88. The company has a market capitalization of $136.31 million, a PE ratio of 10.47 and a beta of 0.61. Western New England Bancorp, Inc. has a 12-month low of $5.58 and a 12-month high of $9.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95.

Western New England Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Tuesday, May 7th. Western New England Bancorp’s payout ratio is currently 46.67%.

Analysts Set New Price Targets

Separately, Piper Sandler reissued a “neutral” rating and issued a $7.50 target price (down previously from $9.00) on shares of Western New England Bancorp in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.50.

Western New England Bancorp Profile

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.