Insider Selling: Western New England Bancorp Inc (WNEB) CFO Sells 5,054 Shares of Stock

Western New England Bancorp Inc (NASDAQ:WNEB) CFO Guida R. Sajdak sold 5,054 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.00, for a total value of $50,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ:WNEB traded up $0.03 during mid-day trading on Friday, hitting $9.95. 505 shares of the company traded hands, compared to its average volume of 71,547. The company has a market cap of $290.56 million, a P/E ratio of 17.77 and a beta of 0.18. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.05. Western New England Bancorp Inc has a 52-week low of $8.50 and a 52-week high of $11.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, January 29th. The financial services provider reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $17.06 million for the quarter, compared to the consensus estimate of $17.19 million. Western New England Bancorp had a return on equity of 6.71% and a net margin of 18.60%. Analysts predict that Western New England Bancorp Inc will post 0.56 earnings per share for the current year.



The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 27th. Shareholders of record on Wednesday, February 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 12th. This is an increase from Western New England Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 2.01%. Western New England Bancorp’s payout ratio is currently 35.71%.

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Western New England Bancorp by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 277,552 shares of the financial services provider’s stock worth $2,786,000 after purchasing an additional 13,954 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Western New England Bancorp by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,303,968 shares of the financial services provider’s stock worth $23,132,000 after purchasing an additional 59,945 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Western New England Bancorp by 346.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 7,494 shares during the last quarter. Bank of America Corp DE increased its holdings in Western New England Bancorp by 34.6% during the 4th quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 6,876 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in Western New England Bancorp during the 4th quarter worth approximately $152,000. Institutional investors own 53.69% of the company’s stock.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 8th. BidaskClub upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, ValuEngine downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Western New England Bancorp has a consensus rating of “Hold” and a consensus target price of $10.75.

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Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides community banking products and services to individuals and businesses. The company accepts various deposit accounts, including time deposits, money market accounts, savings accounts, demand accounts, and interest bearing checking accounts.

Read More: Certificate of Deposit (CD)

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