Hennessy Advisors Inc. Sells 55,000 Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB)

Hennessy Advisors Inc. reduced its stake in Western New England Bancorp, Inc. (NASDAQ:WNEB) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,000 shares of the financial services provider’s stock after selling 55,000 shares during the period. Hennessy Advisors Inc. owned 1.66% of Western New England Bancorp worth $3,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its stake 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 purchasing an additional 6,060 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Western New England Bancorp during the fourth quarter worth about $108,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Western New England Bancorp during the fourth quarter worth about $120,000. Raymond James Financial Inc. bought a new stake in shares of Western New England Bancorp during the fourth quarter worth about $209,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Western New England Bancorp during the fourth quarter worth about $253,000. 67.95% of the stock is owned by institutional investors.

Western New England Bancorp Trading Down 3.1%

NASDAQ:WNEB opened at $9.08 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $9.11 and a 200-day moving average of $9.19. The company has a market cap of $188.06 million, a PE ratio of 16.21 and a beta of 0.77. Western New England Bancorp, Inc. has a one year low of $6.10 and a one year high of $10.08.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $28.44 million for the quarter, compared to the consensus estimate of $15.58 million. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. As a group, equities research analysts expect that Western New England Bancorp, Inc. will post 0.6 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Wednesday, May 7th. Western New England Bancorp’s payout ratio is presently 52.83%.

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.