Renaissance Technologies LLC Sells 47,600 Shares of Western New England Bancorp $WNEB

Renaissance Technologies LLC lowered its position in Western New England Bancorp (NASDAQ:WNEBFree Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,000,762 shares of the financial services provider’s stock after selling 47,600 shares during the quarter. Renaissance Technologies LLC owned 4.97% of Western New England Bancorp worth $12,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WNEB. Geode Capital Management LLC boosted its position in Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after buying an additional 220,852 shares during the period. Jane Street Group LLC increased its position in Western New England Bancorp by 190.1% in the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 52,858 shares during the period. First Trust Advisors LP acquired a new position in Western New England Bancorp in the 3rd quarter valued at approximately $600,000. Federated Hermes Inc. increased its position in Western New England Bancorp by 30.9% in the 4th quarter. Federated Hermes Inc. now owns 204,989 shares of the financial services provider’s stock valued at $2,587,000 after acquiring an additional 48,395 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Western New England Bancorp during the third quarter valued at $480,000. Institutional investors own 67.95% of the company’s stock.

Wall Street Analyst Weigh In

WNEB has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Piper Sandler raised their target price on Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday. Seaport Research Partners downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Zacks Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Western New England Bancorp currently has a consensus rating of “Hold” and an average target price of $15.50.

View Our Latest Analysis on WNEB

Western New England Bancorp Trading Down 1.2%

WNEB opened at $12.93 on Friday. Western New England Bancorp has a twelve month low of $10.25 and a twelve month high of $15.01. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $13.87 and a 200-day moving average of $13.54. The stock has a market cap of $260.15 million, a PE ratio of 15.39 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEBGet Free Report) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $22.13 million for the quarter, compared to the consensus estimate of $22.74 million. Western New England Bancorp had a return on equity of 6.80% and a net margin of 12.43%. On average, sell-side analysts predict that Western New England Bancorp will post 0.94 EPS for the current year.

Western New England Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.28 annualized dividend and a dividend yield of 2.2%. Western New England Bancorp’s dividend payout ratio (DPR) is 33.33%.

Insider Activity

In other news, SVP Darlene M. Libiszewski sold 3,680 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares of the company’s stock, valued at $188,524.16. The trade was a 20.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.56% of the stock is owned by corporate insiders.

About Western New England Bancorp

(Free Report)

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.

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Institutional Ownership by Quarter for Western New England Bancorp (NASDAQ:WNEB)

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