Renaissance Technologies LLC Sells 47,600 Shares of Western New England Bancorp $WNEB

Renaissance Technologies LLC lessened its stake in shares of Western New England Bancorp (NASDAQ:WNEB) by 4.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,000,762 shares of the financial services provider’s stock after selling 47,600 shares during the period. Renaissance Technologies LLC’s holdings in Western New England Bancorp were worth $12,940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cubist Systematic Strategies LLC grew its holdings in Western New England Bancorp by 141.6% in the first quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 10,358 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Western New England Bancorp by 36.5% during the first 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 period. Empowered Funds LLC raised its holdings in shares of Western New England Bancorp by 7.0% during the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 5,883 shares during the period. Jane Street Group LLC boosted its position in shares of Western New England Bancorp by 190.1% during the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 52,858 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider’s stock worth $4,007,000 after purchasing an additional 220,852 shares in the last quarter. 67.95% of the stock is owned by institutional investors.

Insider Activity at Western New England Bancorp

In other news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the sale, the senior vice president directly owned 14,048 shares of the company’s stock, valued at $188,524.16. This represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on WNEB shares. Piper Sandler boosted their target price on Western New England Bancorp from $15.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday. Seaport Research Partners cut Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday. Weiss Ratings upgraded Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Zacks Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.50.

Western New England Bancorp Stock Down 1.2%

Shares of NASDAQ WNEB opened at $12.93 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The company has a 50-day moving average price of $13.87 and a 200-day moving average price of $13.54. The stock has a market capitalization of $260.15 million, a P/E ratio of 15.39 and a beta of 0.75. Western New England Bancorp has a 1 year low of $10.25 and a 1 year high of $15.01.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 6.80% and a net margin of 12.43%.The business had revenue of $22.13 million during the quarter, compared to analyst estimates of $22.74 million. On average, equities research analysts forecast that Western New England Bancorp will post 0.94 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 12th. Western New England Bancorp’s payout ratio is currently 33.33%.

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.