Hsbc Holdings PLC Sells 11,155 Shares of Western New England Bancorp $WNEB

Hsbc Holdings PLC reduced its holdings in Western New England Bancorp (NASDAQ:WNEB) by 37.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,741 shares of the financial services provider’s stock after selling 11,155 shares during the period. Hsbc Holdings PLC owned approximately 0.09% of Western New England Bancorp worth $176,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Western New England Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,495,233 shares of the financial services provider’s stock worth $13,756,000 after buying an additional 5,560 shares during the period. Millennium Management LLC grew its holdings in shares of Western New England Bancorp by 2.2% during the 4th quarter. Millennium Management LLC now owns 129,892 shares of the financial services provider’s stock worth $1,195,000 after purchasing an additional 2,735 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Western New England Bancorp by 12.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,813 shares of the financial services provider’s stock worth $1,003,000 after purchasing an additional 12,189 shares in the last quarter. Barclays PLC grew its holdings in shares of Western New England Bancorp by 30.9% during the 4th quarter. Barclays PLC now owns 58,165 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 13,743 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Western New England Bancorp by 17.7% during the 4th quarter. Bank of America Corp DE now owns 56,202 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 8,434 shares in the last quarter. 67.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WNEB has been the topic of several recent research reports. Piper Sandler lifted their price objective on Western New England Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Wall Street Zen raised Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.00.

Western New England Bancorp Price Performance

Shares of WNEB stock opened at $12.44 on Friday. The stock’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $9.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $254.90 million, a price-to-earnings ratio of 21.08 and a beta of 0.85. Western New England Bancorp has a one year low of $7.63 and a one year high of $12.70.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.14 by $0.09. The business had revenue of $21.05 million for the quarter, compared to analyst estimates of $16.35 million. Western New England Bancorp had a return on equity of 5.07% and a net margin of 9.51%. On average, analysts expect that Western New England Bancorp will post 0.6 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.3%. Western New England Bancorp’s payout ratio is presently 47.46%.

Insiders Place Their Bets

In other news, Director Philip R. Smith sold 4,000 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $10.79, for a total transaction of $43,160.00. Following the completion of the sale, the director owned 10,497 shares in the company, valued at $113,262.63. The trade was a 27.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Darlene M. Libiszewski sold 3,600 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $12.39, for a total value of $44,604.00. Following the completion of the sale, the senior vice president owned 16,044 shares of the company’s stock, valued at $198,785.16. This represents a 18.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.12% of the company’s stock.

Western New England Bancorp Company 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.