Hennessy Advisors Inc. Has $2.68 Million Stock Holdings in Western New England Bancorp $WNEB

Hennessy Advisors Inc. lowered its holdings in Western New England Bancorp (NASDAQ:WNEB) by 15.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 290,000 shares of the financial services provider’s stock after selling 55,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Western New England Bancorp were worth $2,677,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WNEB. Janney Montgomery Scott LLC lifted its holdings in shares of Western New England Bancorp by 28.0% during the first quarter. Janney Montgomery Scott LLC now owns 14,180 shares of the financial services provider’s stock worth $132,000 after buying an additional 3,100 shares during the last quarter. Bank of America Corp DE raised its stake in 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 valued at $517,000 after purchasing an additional 8,434 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in 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 valued at $856,000 after purchasing an additional 24,597 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Western New England Bancorp by 12.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,813 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 12,189 shares during the period. Finally, ST Germain D J Co. Inc. grew its position in Western New England Bancorp by 40.6% in the 2nd quarter. ST Germain D J Co. Inc. now owns 27,648 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 7,977 shares during the last quarter. 67.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler upped their price target on Western New England Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Western New England Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Insider Activity at Western New England Bancorp

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,600 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $12.39, for a total transaction of $44,604.00. Following the transaction, the senior vice president owned 16,044 shares of the company’s stock, valued at approximately $198,785.16. This represents a 18.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip R. Smith sold 4,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $10.79, for a total value of $43,160.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 6.12% of the company’s stock.

Western New England Bancorp Price Performance

Shares of WNEB stock opened at $11.74 on Friday. Western New England Bancorp has a 52 week low of $7.63 and a 52 week high of $12.80. The stock has a market capitalization of $240.55 million, a PE ratio of 19.90 and a beta of 0.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s fifty day moving average is $11.88 and its 200-day moving average is $10.18.

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

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.4%. Western New England Bancorp’s dividend payout ratio (DPR) is currently 47.46%.

Western New England Bancorp 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.