BlackRock Discloses 5.0% Stake in Western New England Bancorp

TL;DR

**BlackRock just revealed a 5.0% stake in Western New England Bancorp, signaling institutional confidence.**

AI Summary

BlackRock Inc., a massive investment firm, reported on January 31, 2024, that it holds a significant stake in Western New England Bancorp, Inc. As of December 31, 2023, BlackRock owns 1,029,742 shares of the bank's common stock, representing 5.0% of the company. This matters to investors because BlackRock's substantial holding signals confidence in the bank's future, potentially attracting other institutional investors and providing a stable shareholder base.

Why It Matters

BlackRock's 5.0% ownership in Western New England Bancorp indicates a major institutional investor sees value, which can be a positive signal for current and prospective shareholders.

Risk Assessment

Risk Level: low — This filing indicates a large institutional investor has taken a significant position, which generally reduces risk by providing stability and potential oversight.

Analyst Insight

A smart investor would view BlackRock's 5.0% stake as a vote of confidence, potentially signaling a stable long-term investment, and might consider further research into Western New England Bancorp, Inc.'s fundamentals.

Key Numbers

• 1,029,742 — Shares Owned (The total number of common stock shares of Western New England Bancorp, Inc. beneficially owned by BlackRock Inc.)
• 5.0% — Ownership Percentage (The percentage of Western New England Bancorp, Inc.'s common stock owned by BlackRock Inc., making it a significant shareholder.)
• December 31, 2023 — Reporting Date (The specific date as of which BlackRock Inc.'s ownership stake is being reported.)

Key Players & Entities

• BlackRock Inc. (company) — the reporting person and institutional investor
• Western New England Bancorp, Inc. (company) — the subject company whose shares are being reported
• 1,029,742 (dollar_amount) — shares of common stock beneficially owned by BlackRock Inc.
• 5.0% (dollar_amount) — percentage of the class of common stock beneficially owned by BlackRock Inc.
• December 31, 2023 (person) — the date of the event requiring the filing
• January 31, 2024 (person) — the filing date of the SC 13G

Forward-Looking Statements

• Other institutional investors may increase their positions in Western New England Bancorp, Inc. (Western New England Bancorp, Inc.) — medium confidence, target: Within 6-12 months
• The stock price of Western New England Bancorp, Inc. will experience increased stability due to a large institutional holder. (Western New England Bancorp, Inc.) — medium confidence, target: Ongoing

FAQ

From the Filing

0001086364-24-006039.txt : 20240131 0001086364-24-006039.hdr.sgml : 20240131 20240131140826 ACCESSION NUMBER: 0001086364-24-006039 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240131 DATE AS OF CHANGE: 20240131 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Western New England Bancorp, Inc. CENTRAL INDEX KEY: 0001157647 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] ORGANIZATION NAME: 02 Finance IRS NUMBER: 731627673 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-62413 FILM NUMBER: 24582149 BUSINESS ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 BUSINESS PHONE: 413-568-1911 MAIL ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 FORMER COMPANY: FORMER CONFORMED NAME: WESTFIELD FINANCIAL INC DATE OF NAME CHANGE: 20010816 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G 1 us9588921018_013124.txt us9588921018_013124.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: ) WESTERN NEW ENGLAND BANCORP INC -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 958892101 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 958892101 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 1091272 (6) Shared voting power 0 (7) Sole dispositive power 1114992 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 1114992 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 5.1% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- WESTERN NEW ENGLAND BANCORP INC Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 141 ELM STREET WESTFIELD MA 01085 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock,