Western New England Bancorp, Inc. Announces Completion of 2024 Repurchase Plan
On April 22, 2025, the Board of Directors of the Company authorized a new stock repurchase plan, pursuant to which the Company may repurchase up to 1.0 million shares, or approximately 4.8% of the Company's outstanding shares of common stock, upon the completion of the 2024 Repurchase Plan.
James C. Hagan, President and Chief Executive Officer, commented, 'We are pleased to announce the completion of our 2024 Repurchase Plan. We believe that share repurchases are a prudent use of the Company's capital and demonstrate our commitment to effectively manage the Company's capital levels, while increasing total shareholder returns through stock repurchases as well as cash dividends.'
The Company may repurchase shares from time to time in open market transactions or through privately negotiated transactions at the Company's discretion or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The amount, timing and nature of any share repurchases will be based on a variety of factors, including the trading price of the Company's common stock, applicable securities laws restrictions, regulatory limitations and market and economic factors. The repurchase program may be modified, suspended or discontinued at any time, at the Company's discretion.
About Western New England Bancorp, Inc.
Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank, CSB Colts, Inc., Elm Street Securities Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC. Western New England Bancorp, Inc. and its subsidiaries are headquartered in Westfield, Massachusetts and operate 25 banking offices throughout western Massachusetts and northern Connecticut. To learn more, visit our website at www.westfieldbank.com.
Forward-Looking Statements
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the Company's financial condition, liquidity, results of operations, future performance, and business. Forward-looking statements may be identified by the use of such words as 'believe,' 'expect,' 'anticipate,' 'should,' 'planned,' 'estimated,' and 'potential.' Examples of forward-looking statements include, but are not limited to, estimates with respect to our financial condition, results of operations and business that are subject to various factors which could cause actual results to differ materially from these estimates.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from the results discussed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption 'Risk Factors' in Western New England Bancorp's Annual Report on Form 10-K for the year ended December 31, 2024 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. We do not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
7 minutes ago
- Globe and Mail
Prediction: Nvidia Will Soar Over the Next 5 Years. Here's 1 Reason Why.
Key Points Nvidia has the most powerful computer chips, and the major AI developers rely on them to drive their businesses. The total AI opportunity is expected to increase at a high rate over the next five years. 10 stocks we like better than Nvidia › Nvidia (NASDAQ: NVDA) has been that rare stock that has catapulted investors to millionaire status on its own. But up more than 1,500% over the past five years, and with a $4 trillion market cap, can it really still offer growth for investors? It can. Here's why. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The age of AI All signs are that artificial intelligence (AI) will continue to drive innovation over the next few years as more businesses see how it can help them succeed and grow. As there's greater development in AI, it becomes cheaper and more abundant, and companies that aren't using it to become more efficient and user-friendly are losing out. Nvidia is the leader in the graphics processing units (GPU) that power these trends, with an overwhelming amount of market share. The AI market is growing at a fast pace, and the major players, like Amazon and Microsoft, need Nvidia's powerful chips to drive their efforts. Even companies like Amazon that are creating their own chips to offer more budget-conscious options still partner with Nvidia for their larger clients' needs. According to Statista, the AI market is expected to increase at a compound annual growth rate (CAGR) of 26.6% over the next five years. That's slower than Nvidia's current revenue growth. If you can imagine Nvidia keeping up such a CAGR for its own sales, keeping its price-to-sales ratio constant, that would lead to its stock price nearly tripling. Even if the price-to-sales ratio decreases, there could be some serious gains ahead for Nvidia investors over the next five years and beyond. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025
Globe and Mail
7 minutes ago
- Globe and Mail
After Soaring Nearly 100% So Far This Year, Where Will Palantir Stock Be at the End of 2025?
Key Points Palantir has witnessed a meteoric rise in its share price thanks to the company's successful foray into the artificial intelligence (AI) arena. Several respected investors on Wall Street have been applying different approaches when it comes to investing in Palantir, making it hard to discern how "smart money" feels about the company. Palantir is trading for a historically high valuation, and broader buying and selling themes from institutional money managers could suggest a sell-off is on the horizon. 10 stocks we like better than Palantir Technologies › Outside of Nvidia, I'd argue that no other company has benefited from the tailwinds of the artificial intelligence (AI) revolution as much as data mining specialist Palantir Technologies (NASDAQ: PLTR). Over the last three years, shares of Palantir have gained more than 1,300%. Just this year alone, Palantir stock has rocketed by 97%. To put that into perspective, the S&P 500 and Nasdaq Composite indexes haven't even posted gains of 10% in 2025. While it can be tempting to follow the momentum in hopes of more outsize gains, smart investors understand that hope is not a real strategy. Let's explore the catalysts behind Palantir's generational run, and assess some recent trading activity to help discern whether Palantir stock could be headed even higher. The unprecedented rise in Palantir When AI first started to emerge as the next megatrend during late 2022 and early 2023, investors were consistently bombarded with news around big tech's splashy investments in the space. Microsoft plowed $10 billion into OpenAI, the maker of ChatGPT. Both Amazon and Alphabet invested hefty sums into a competing platform, called Anthropic. Tesla was touting its advancements in self-driving cars and humanoid robots. You get the drift -- the AI narrative largely hinged on the moves big tech was making. But in the background, Palantir was building. In April 2023, the company launched its fourth major software suite -- the Palantir Artificial Intelligence Platform (AIP). PLTR Revenue (TTM) data by YCharts As the graph above illustrates, Palantir was a relatively slow-growth, cash-burning enterprise prior to the release of AIP. But since AIP's launch a little more than two years ago, Palantir's revenue has accelerated considerably. On top of that, the company has been able to command improving unit economics underscored by a sweeping transition to positive net income and generating billions in free cash flow. At the end of 2022, Palantir had 367 total customers. As of the end of the first quarter this year, Palantir boasted 769 total customers. Perhaps even more impressive is that the company's commercial customers (non-government) have risen by more than twofold over the last couple of years. To me, AIP is serving as a gateway for Palantir to expand its reach beyond federal contracts with the U.S. military, which is what Palantir is best known for. AIP represents a transformational shift as a defense contractor to a more ubiquitous software platform capable of penetrating the private sector, despite relentless competition from larger companies such as Salesforce or SAP. As a Palantir bull myself, I've been blown away by management's ability to outmaneuver big tech and deliver on lofty growth targets time and again. But as an investor, I can't help but wonder if the company's share price trajectory is sustainable. Is Wall Street trying to tell investors something? In addition to analyzing financial trends and operating metrics, investors can augment their due diligence process by listening to how Wall Street analysts talk about a company or even dig into the trading activity of notable investors. Thanks to a nifty tool called a form 13F, investors can access an itemized breakdown of all of the buys and sells from hedge funds during a given quarter. During the first quarter, famed billionaire investor Stanley Druckenmiller sold out of his fund's Palantir position. In addition, Cathie Wood has been trimming exposure to Palantir in Ark's portfolio as well. On the flip side, billionaire investors Ken Griffin and Israel Englander both added to their funds' respective Palantir positions during the first quarter. Given these dynamics, it might be hard to discern how Wall Street really feels about Palantir. I think there are some nuances to point out given the details above. First, both Druckenmiller and Wood have been in and out of Palantir stock in the past -- this is not the first time each investor reduced their exposure to the data analytics darling. On top of that, I think Griffin's and Englander's activity should be taken with a grain of salt. Both investors run highly sophisticated, multistrategy hedge funds. From time to time, some of this activity may include being a market maker. Although it may appear bullish that Palantir stock is held in Griffin's Citadel and Englander's Millennium Management portfolios, I wouldn't quite buy that narrative. Neither fund is necessarily known for holding positions for the long term. Moreover, as a multistrategy fund with a number of different teams and objectives, I think that it's highly likely that Citadel and Millennium have a layered and complex hedge strategy when it comes to owning a volatile growth stock such as Palantir. Where will Palantir stock be at the end of 2025? The chart below illustrates institutional buying and selling of Palantir stock over the last few years. PLTR Shares Bought By Institutional Investors data by YCharts Given that buying (the purple line) remains elevated over selling (the orange line), this could suggest that Palantir remains a favorite among institutional portfolios. However, as I expressed above, not all hedge funds and money managers have the same strategy. In other words, some of this elevated buying could be part of a broader, more complex trading strategy and less so an endorsement of long-term accumulation. Over the last few months, Palantir stock has become increasingly more expensive. In fact, the company is trading well beyond levels seen during peak days of the dot-com or COVID-19 bubbles. While it's impossible to know for certain where Palantir stock will be trading by the end of the year, smart investors know that nothing goes up in a straight line forever. A good indicator for how investors feel about Palantir's prospects should come after the company reports second-quarter earnings in a couple of weeks. As a reminder, shares fell off a cliff for a brief moment following the company's first-quarter blowout report. Expectations are rising with each passing report, and I would not be surprised to see Palantir stock sell off again -- even if its Q2 results are stellar. Given the convergence between institutional buying and selling, combined with Palantir's increasingly expensive valuation, I can't help but be cautious at this point. I do think a valuation correction could be in store sooner or later and would not be surprised if shares are trading for a considerably lower price by the end of the year. Should you invest $1,000 in Palantir Technologies right now? Before you buy stock in Palantir Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Palantir Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025
Globe and Mail
7 minutes ago
- Globe and Mail
Could Navitas Semiconductor 10x By 2030?
Navitas Semiconductor (NASDAQ: NVTS) is emerging as a pure‑play powerhouse in gallium nitride chips, powering artificial intelligence (AI) data centers and electric vehicle (EV) systems. With Nvidia (NASDAQ: NVDA) and Powerchip deals lighting the fuse, could this under‑the‑radar stock skyrocket? I unpack the breakthrough tech, explosive partnerships, and market headwinds -- what every savvy investor needs to know now. *Stock prices used were the market prices of July 18, 2025. The video was published on July 26, 2025. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Rick Orford has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
