Western New England Bancorp Inc (NASDAQ:WNEB) Short Interest Down 5.1% in May

Western New England Bancorp Inc (NASDAQ:WNEB) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 407,400 shares, a drop of 5.1% from the April 30th total of 429,100 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 47,500 shares, the days-to-cover ratio is currently 8.6 days.

WNEB has been the subject of several recent analyst reports. DA Davidson initiated coverage on shares of Western New England Bancorp in a research report on Thursday. They set a “neutral” rating and a $10.00 price objective for the company. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub downgraded shares of YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.50.

NASDAQ WNEB remained flat at $$9.37 during mid-day trading on Friday. 58,600 shares of the company traded hands, compared to its average volume of 34,519. The business’s fifty day moving average is $9.25. Western New England Bancorp has a twelve month low of $8.50 and a twelve month high of $11.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $252.55 million, a PE ratio of 16.73 and a beta of 0.21.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Western New England Bancorp had a net margin of 18.14% and a return on equity of 6.81%. The business had revenue of $16.50 million during the quarter, compared to the consensus estimate of $17.01 million. Equities research analysts predict that Western New England Bancorp will post 0.52 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its position in Western New England Bancorp by 525.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,407 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 4,542 shares during the period. Metropolitan Life Insurance Co. NY grew its position in Western New England Bancorp by 346.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 7,494 shares during the period. SG Americas Securities LLC acquired a new stake in Western New England Bancorp in the 1st quarter valued at $112,000. Essex Financial Services Inc. acquired a new stake in Western New England Bancorp in the 4th quarter valued at $152,000. Finally, Bank of America Corp DE grew its position in Western New England Bancorp by 34.6% in the 4th quarter. Bank of America Corp DE now owns 26,725 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 6,876 shares during the period. 52.60% of the stock is owned by institutional investors and hedge funds.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.

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