White Pine Capital LLC Buys 22,541 Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB)

White Pine Capital LLC boosted its stake in shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,352 shares of the financial services provider’s stock after acquiring an additional 22,541 shares during the quarter. White Pine Capital LLC’s holdings in Western New England Bancorp were worth $912,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its holdings in Western New England Bancorp by 14.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 6,671 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Western New England Bancorp by 6.8% during the 3rd quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 1,838 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Western New England Bancorp by 32.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 81,972 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 20,025 shares during the last quarter. Ritholtz Wealth Management grew its holdings in Western New England Bancorp by 8.7% during the 4th quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 1,917 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Western New England Bancorp by 4.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,658 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 3,353 shares during the last quarter. Institutional investors own 67.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $7.50 target price (down previously from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Western New England Bancorp currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Western New England Bancorp Trading Down 3.2 %

Shares of NASDAQ WNEB traded down $0.21 during mid-day trading on Friday, hitting $6.45. The company’s stock had a trading volume of 34,774 shares, compared to its average volume of 41,917. The stock has a market cap of $140.03 million, a price-to-earnings ratio of 10.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95. Western New England Bancorp, Inc. has a one year low of $5.58 and a one year high of $9.25. The company’s fifty day simple moving average is $7.50 and its 200-day simple moving average is $7.87.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Western New England Bancorp had a return on equity of 5.44% and a net margin of 11.10%. The firm had revenue of $18.89 million for the quarter, compared to the consensus estimate of $18.67 million. On average, sell-side analysts anticipate that Western New England Bancorp, Inc. will post 0.51 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, May 7th. Western New England Bancorp’s payout ratio is 46.67%.

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.