Western New England Bancorp (NASDAQ:WNEB) Stock Passes Below 50-Day Moving Average – What’s Next?

Western New England Bancorp (NASDAQ:WNEB) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $13.36 and traded as low as $13.33. Western New England Bancorp shares last traded at $13.48, with a volume of 42,476 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WNEB. Zacks Research cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Hovde Group raised shares of Western New England Bancorp to a “hold” rating in a report on Thursday, April 2nd. Finally, Seaport Research Partners increased their price objective on shares of Western New England Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Western New England Bancorp Price Performance

The firm’s fifty day simple moving average is $13.36 and its 200 day simple moving average is $13.01. The firm has a market cap of $271.22 million, a P/E ratio of 15.15 and a beta of 0.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. The business had revenue of $21.82 million during the quarter, compared to the consensus estimate of $21.96 million. As a group, analysts forecast that Western New England Bancorp will post 1 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio is 31.46%.

Insider Activity

In other news, Director Philip R. Smith sold 3,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.17, for a total transaction of $39,510.00. Following the sale, the director directly owned 7,497 shares in the company, valued at approximately $98,735.49. This represents a 28.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.56% of the company’s stock.

Institutional Trading of Western New England Bancorp

Hedge funds have recently made changes to their positions in the business. Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of Western New England Bancorp during the 3rd quarter valued at about $1,592,000. Teton Advisors LLC purchased a new stake in shares of Western New England Bancorp during the 3rd quarter valued at about $805,000. D Orazio & Associates Inc. purchased a new stake in shares of Western New England Bancorp during the 3rd quarter valued at about $140,000. Federated Hermes Inc. raised its position in shares of Western New England Bancorp by 2.1% during the 3rd quarter. Federated Hermes Inc. now owns 156,594 shares of the financial services provider’s stock valued at $1,881,000 after buying an additional 3,295 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Western New England Bancorp by 10.0% during the 1st quarter. Empowered Funds LLC now owns 123,791 shares of the financial services provider’s stock valued at $1,601,000 after buying an additional 11,291 shares in the last quarter. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.