Western New England Bancorp, Inc. (NASDAQ:WNEB) Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC lifted its stake in shares of Western New England Bancorp, Inc. (NASDAQ:WNEB) by 39.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,441 shares of the financial services provider’s stock after acquiring an additional 6,021 shares during the quarter. Legato Capital Management LLC’s holdings in Western New England Bancorp were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of Western New England Bancorp by 808.9% in the 4th quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 4,465 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Western New England Bancorp in the 1st quarter worth approximately $85,000. ST Germain D J Co. Inc. lifted its holdings in shares of Western New England Bancorp by 19.3% during the first quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock worth $170,000 after buying an additional 3,585 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in Western New England Bancorp by 50.9% in the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 7,482 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Western New England Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 70,125 shares of the financial services provider’s stock valued at $538,000 after buying an additional 5,250 shares during the last quarter. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WNEB has been the topic of several research reports. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Piper Sandler boosted their price objective on Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Seaport Res Ptn cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Western New England Bancorp Price Performance

Shares of WNEB stock traded down $0.02 during trading hours on Tuesday, hitting $8.76. The company had a trading volume of 6,512 shares, compared to its average volume of 40,075. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $189.46 million, a price-to-earnings ratio of 14.60 and a beta of 0.69. Western New England Bancorp, Inc. has a 12 month low of $6.00 and a 12 month high of $9.25. The firm’s fifty day moving average is $7.57 and its 200 day moving average is $7.31.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. The firm had revenue of $30.64 million for the quarter, compared to analysts’ expectations of $18.22 million. On average, sell-side analysts predict that Western New England Bancorp, Inc. will post 0.53 EPS for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Wednesday, August 7th. Western New England Bancorp’s dividend payout ratio (DPR) is currently 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.