Ritholtz Wealth Management Increases Holdings in Western New England Bancorp $WNEB

Ritholtz Wealth Management grew its stake in Western New England Bancorp (NASDAQ:WNEB) by 230.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,356 shares of the financial services provider’s stock after acquiring an additional 102,770 shares during the quarter. Ritholtz Wealth Management’s holdings in Western New England Bancorp were worth $1,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. White Pine Capital LLC raised its position in shares of Western New England Bancorp by 1.5% in the 2nd quarter. White Pine Capital LLC now owns 168,254 shares of the financial services provider’s stock worth $1,553,000 after purchasing an additional 2,553 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Western New England Bancorp during the 2nd quarter valued at about $39,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Western New England Bancorp during the 2nd quarter valued at about $45,000. Empowered Funds LLC raised its holdings in Western New England Bancorp by 7.0% in the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock worth $832,000 after buying an additional 5,883 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Western New England Bancorp by 12.5% in the second quarter. Bank of America Corp DE now owns 53,368 shares of the financial services provider’s stock worth $493,000 after buying an additional 5,931 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Western New England Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Western New England Bancorp Stock Down 1.0%

WNEB opened at $13.00 on Monday. The stock has a market capitalization of $266.37 million, a price-to-earnings ratio of 19.70 and a beta of 0.83. The firm has a 50 day moving average price of $12.54 and a 200-day moving average price of $11.82. Western New England Bancorp has a twelve month low of $7.63 and a twelve month high of $13.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $17.99 million. Western New England Bancorp had a return on equity of 5.58% and a net margin of 10.33%. Equities research analysts forecast that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.28 annualized dividend and a dividend yield of 2.2%. Western New England Bancorp’s payout ratio is presently 42.42%.

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.