Western New England Bancorp $WNEB Shares Sold by Maltese Capital Management LLC

Maltese Capital Management LLC lessened its stake in shares of Western New England Bancorp (NASDAQ:WNEB) by 25.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 164,888 shares of the financial services provider’s stock after selling 57,612 shares during the period. Maltese Capital Management LLC owned about 0.80% of Western New England Bancorp worth $2,081,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cubist Systematic Strategies LLC raised its position in shares of Western New England Bancorp by 141.6% during the first quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 10,358 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Western New England Bancorp by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock worth $856,000 after buying an additional 24,597 shares during the period. Empowered Funds LLC raised its stake in Western New England Bancorp by 7.0% during the 1st quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 5,883 shares during the last quarter. Jane Street Group LLC raised its position in Western New England Bancorp by 190.1% in the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 52,858 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $4,007,000 after purchasing an additional 220,852 shares during the last quarter. 67.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on WNEB shares. Seaport Research Partners raised their price target on Western New England Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Weiss Ratings raised Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Hovde Group raised shares of Western New England Bancorp to a “hold” rating in a research note on Thursday, April 2nd. Finally, Zacks Research cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Western New England Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Western New England Bancorp Trading Down 1.4%

NASDAQ WNEB opened at $13.49 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a 52 week low of $8.52 and a 52 week high of $14.52. The business has a 50 day moving average price of $13.59 and a 200-day moving average price of $13.22. The company has a market cap of $271.42 million, a price-to-earnings ratio of 15.16 and a beta of 0.76.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. The firm had revenue of $21.82 million for the quarter, compared to analysts’ expectations of $21.96 million. As a group, equities analysts expect that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio (DPR) is 31.46%.

Insider Transactions at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total transaction of $49,385.60. Following the sale, the senior vice president owned 14,048 shares of the company’s stock, valued at $188,524.16. The trade was a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.56% of the stock is currently owned by corporate insiders.

Western New England Bancorp Company Profile

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.