Connor Clark & Lunn Investment Management Ltd. Acquires 11,936 Shares of Western New England Bancorp, Inc. (NASDAQ:WNEB)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Western New England Bancorp, Inc. (NASDAQ:WNEB) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,605 shares of the financial services provider’s stock after purchasing an additional 11,936 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.39% of Western New England Bancorp worth $702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Legato Capital Management LLC boosted its position in Western New England Bancorp by 39.0% during the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 6,021 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Western New England Bancorp in the 2nd quarter worth approximately $170,000. Quadrature Capital Ltd raised its stake in shares of Western New England Bancorp by 50.9% during the 1st quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 7,482 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in Western New England Bancorp by 45.2% during the second quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 10,006 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Western New England Bancorp by 48.8% in the third quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 16,158 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Price Performance

NASDAQ WNEB opened at $9.37 on Friday. The firm’s fifty day simple moving average is $8.78 and its two-hundred day simple moving average is $7.96. The firm has a market capitalization of $196.96 million, a P/E ratio of 18.02 and a beta of 0.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Western New England Bancorp, Inc. has a 12-month low of $6.00 and a 12-month high of $9.76.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Western New England Bancorp had a return on equity of 4.58% and a net margin of 9.05%. The business had revenue of $30.98 million for the quarter, compared to analysts’ expectations of $17.39 million. Analysts forecast that Western New England Bancorp, Inc. will post 0.52 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, November 7th. Western New England Bancorp’s payout ratio is currently 53.85%.

Insider Buying and Selling

In related news, SVP Darlene M. Libiszewski sold 5,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $9.18, for a total value of $45,900.00. Following the completion of the transaction, the senior vice president now owns 16,020 shares in the company, valued at $147,063.60. This trade represents a 23.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is owned by company insiders.

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.