Goldman Sachs Group Inc. lessened its holdings in Western New England Bancorp Inc (NASDAQ:WNEB) by 66.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,298 shares of the financial services provider’s stock after selling 50,671 shares during the period. Goldman Sachs Group Inc. owned 0.08% of Western New England Bancorp worth $257,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Voya Investment Management LLC purchased a new stake in Western New England Bancorp in the 2nd quarter worth $119,000. American International Group Inc. increased its stake in Western New England Bancorp by 49.6% in the 1st quarter. American International Group Inc. now owns 13,691 shares of the financial services provider’s stock worth $144,000 after buying an additional 4,540 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Western New England Bancorp during the second quarter valued at about $191,000. OxFORD Asset Management LLP purchased a new position in shares of Western New England Bancorp during the second quarter valued at about $194,000. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Western New England Bancorp by 17.8% during the first quarter. Metropolitan Life Insurance Co. NY now owns 19,248 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 2,902 shares in the last quarter. Institutional investors and hedge funds own 56.72% of the company’s stock.
Shares of Western New England Bancorp Inc (WNEB) traded up $0.05 during midday trading on Monday, reaching $10.70. 117,043 shares of the company’s stock traded hands, compared to its average volume of 75,060. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $326.25, a P/E ratio of 21.30 and a beta of 0.39. Western New England Bancorp Inc has a twelve month low of $8.35 and a twelve month high of $11.10.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Sunday, October 8th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, October 5th. Western New England Bancorp’s payout ratio is currently 24.49%.
A number of research analysts have recently weighed in on WNEB shares. Zacks Investment Research upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Compass Point lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $11.00 price target on shares of Western New England Bancorp in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies downgraded shares of Western New England Bancorp from an “overweight” rating to a “neutral” rating and set a $10.50 price target for the company. in a report on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating, Western New England Bancorp currently has a consensus rating of “Hold” and a consensus target price of $11.25.
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Western New England Bancorp Profile
Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.
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