Western New England Bancorp, Inc. (NASDAQ:WNEB) Sees Significant Increase in Short Interest

Western New England Bancorp, Inc. (NASDAQ:WNEB) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 60,800 shares, an increase of 19.7% from the February 13th total of 50,800 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 54,900 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

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

Western New England Bancorp Stock Performance

Shares of Western New England Bancorp stock opened at $9.05 on Tuesday. 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 twelve month low of $6.00 and a twelve month high of $10.08. The stock has a market cap of $187.77 million, a price-to-earnings ratio of 16.16 and a beta of 0.71. The company’s fifty day moving average is $9.23 and its 200 day moving average is $9.05.

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

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.07 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.28 annualized dividend and a dividend yield of 3.09%. Western New England Bancorp’s dividend payout ratio is 50.00%.

Institutional Trading of Western New England Bancorp

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

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.