Short Interest in Western New England Bancorp, Inc. (NASDAQ:WNEB) Declines By 46.3%

Western New England Bancorp, Inc. (NASDAQ:WNEB) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 79,100 shares, a decline of 46.3% from the March 15th total of 147,400 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 61,100 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On Western New England Bancorp

Large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC raised its position in shares of Western New England Bancorp by 483.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider’s stock worth $67,000 after buying an additional 6,060 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Western New England Bancorp during the fourth quarter worth about $108,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Western New England Bancorp in the 4th quarter valued at about $120,000. Raymond James Financial Inc. purchased a new stake in shares of Western New England Bancorp during the 4th quarter worth about $209,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Western New England Bancorp during the 4th quarter worth approximately $253,000. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn raised Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th.

Western New England Bancorp Trading Up 4.0 %

Shares of Western New England Bancorp stock opened at $8.35 on Wednesday. The firm has a market cap of $173.77 million, a PE ratio of 14.91 and a beta of 0.57. 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 fifty-two week low of $6.00 and a fifty-two week high of $10.08. The business’s fifty day moving average is $9.10 and its two-hundred day moving average is $9.05.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. During the same period last year, the business posted $0.12 EPS. Analysts anticipate that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Wednesday, February 12th. Western New England Bancorp’s dividend payout ratio (DPR) is 50.00%.

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.