Western New England Bancorp (NASDAQ:WNEB) Share Price Passes Below 50-Day Moving Average - Time to Sell?

Key Points

• WNEB shares fell below their 50-day moving average, trading as low as $13.54 and closing around $13.70, below the $14.03 average.
• Analyst sentiment has weakened, with recent downgrades to “hold,” “neutral,” and “sell.” The stock carries an overall “Hold” consensus and a $15.50 price target.
• The company missed quarterly earnings expectations, reporting $0.18 per share versus the $0.24 consensus, while maintaining a quarterly dividend of $0.07, equivalent to a roughly 2% annual yield.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report)'s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.03 and traded as low as $13.54. Western New England Bancorp shares last traded at $13.70, with a volume of 60,672 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WNEB shares. Zacks Research lowered shares of Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Seaport Research Partners downgraded shares of Western New England Bancorp from a "buy" rating to a "neutral" rating in a report on Wednesday, July 29th. Piper Sandler raised their price objective on Western New England Bancorp from $15.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Wall Street Zen cut Western New England Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Western New England Bancorp in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.50.

Western New England Bancorp Stock Down 0.8%

The firm has a market cap of $274.69 million, a PE ratio of 16.31 and a beta of 0.76. The company has a 50-day simple moving average of $14.03 and a 200-day simple moving average of $13.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%.The business had revenue of $27.11 million during the quarter, compared to analysts' expectations of $22.74 million. Analysts expect that Western New England Bancorp will post 0.94 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Western New England Bancorp's dividend payout ratio (DPR) is presently 33.33%.

Institutional Trading of Western New England Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Western New England Bancorp in the second quarter worth about $26,266,000. Geode Capital Management LLC grew its stake in Western New England Bancorp by 103.6% in the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider's stock worth $4,007,000 after acquiring an additional 220,852 shares in the last quarter. Fourthstone LLC grew its stake in Western New England Bancorp by 11.3% in the 4th quarter. Fourthstone LLC now owns 319,953 shares of the financial services provider's stock worth $4,038,000 after acquiring an additional 32,560 shares in the last quarter. State Street Corp increased its position in shares of Western New England Bancorp by 7.1% during the fourth quarter. State Street Corp now owns 268,814 shares of the financial services provider's stock worth $3,392,000 after acquiring an additional 17,937 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of Western New England Bancorp by 1.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider's stock worth $2,822,000 after acquiring an additional 2,171 shares during the period. 67.95% of the stock is currently owned by institutional investors.

About Western New England Bancorp

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.

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