Western New England Bancorp (NASDAQ:WNEB) Share Price Passes Below 50-Day Moving Average - What's Next?

Key Points

• WNEB shares fell below their 50-day moving average, trading as low as $13.55 versus the $13.92 average, and last changing hands at $13.75.
• Analyst sentiment is cautious: one analyst rates the stock Buy while three rate it Hold, producing an overall “Hold” consensus and a $15.50 average price target.
• The company reported quarterly EPS of $0.18, missing the $0.24 estimate, but exceeded revenue expectations with $27.11 million. WNEB also declared a $0.07 quarterly dividend, equivalent to a 2.0% annual yield.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report)'s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $13.92 and traded as low as $13.55. Western New England Bancorp shares last traded at $13.75, with a volume of 35,187 shares trading hands.

Analyst Upgrades and Downgrades

WNEB has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Western New England Bancorp in a research report on Friday. 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. Finally, Seaport Research Partners cut shares of Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.50.

Western New England Bancorp Trading Up 0.2%

The stock has a market capitalization of $276.65 million, a price-to-earnings ratio of 16.37 and a beta of 0.76. The company's 50-day moving average is $13.92 and its 200-day moving average is $13.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its 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 net margin of 12.43% and a return on equity of 6.80%. The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $22.74 million. Research analysts anticipate that Western New England Bancorp will post 0.94 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.07 dividend. The ex-dividend date is 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 is currently 33.33%.

Insiders Place Their Bets

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the transaction, the senior vice president directly owned 14,048 shares in the company, valued at approximately $188,524.16. This represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.56% of the company's stock.

Institutional Trading of Western New England Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Western New England Bancorp during the 2nd quarter worth approximately $26,266,000. Geode Capital Management LLC raised its position in Western New England Bancorp by 103.6% in the second quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider's stock valued at $4,007,000 after purchasing an additional 220,852 shares during the period. Fourthstone LLC raised its position in Western New England Bancorp by 11.3% in the fourth quarter. Fourthstone LLC now owns 319,953 shares of the financial services provider's stock valued at $4,038,000 after purchasing an additional 32,560 shares during the period. State Street Corp lifted its stake in 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 purchasing an additional 17,937 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted 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 buying an additional 2,171 shares during the period. 67.95% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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