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

Key Points

• WNEB shares slipped below their 50-day moving average on Wednesday, trading as low as $13.33 before last changing hands at $13.48. The stock’s 50-day average is $13.36.
• Analyst sentiment remains mixed but slightly positive, with a consensus rating of “Moderate Buy” and an average price target of $15.00. Recent updates included higher targets from Seaport Research Partners and Piper Sandler, while Zacks Research downgraded the stock to Hold.
• Western New England Bancorp beat earnings expectations in its latest quarter, reporting EPS of $0.24 versus the $0.21 estimate. The company also announced a quarterly dividend of $0.07 per share, implying a 2.1% annualized yield.

Shares of Western New England Bancorp (NASDAQ:WNEB - Get Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WNEB shares. Seaport Research Partners raised their price target on shares of Western New England Bancorp from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Piper Sandler reissued an "overweight" rating and set a $15.00 price target on shares of Western New England Bancorp in a research report 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 research report on Monday, May 11th. Zacks Research downgraded shares of Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Finally, Hovde Group raised shares of Western New England Bancorp to a "hold" rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Western New England Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Western New England Bancorp Stock Performance

The business's 50-day moving average price is $13.36 and its 200-day moving average price is $13.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $271.22 million, a P/E ratio of 15.15 and a beta of 0.79.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $21.82 million during the quarter, compared to the consensus estimate of $21.96 million. As a group, sell-side analysts expect that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Announces Dividend

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

Insider Activity

In other news, Director Philip R. Smith sold 3,000 shares of the business's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.17, for a total transaction of $39,510.00. Following the completion of the sale, the director owned 7,497 shares of the company's stock, valued at $98,735.49. The trade was a 28.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WNEB. Cubist Systematic Strategies LLC lifted its stake in shares of Western New England Bancorp by 141.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider's stock valued at $164,000 after buying an additional 10,358 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Western New England Bancorp by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider's stock valued at $856,000 after buying an additional 24,597 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Western New England Bancorp by 7.0% during the 1st quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider's stock valued at $832,000 after buying an additional 5,883 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Western New England Bancorp by 190.1% during the 1st quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider's stock valued at $750,000 after buying an additional 52,858 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Western New England Bancorp by 103.6% during the 2nd quarter. Geode Capital Management LLC now owns 434,123 shares of the financial services provider's stock valued at $4,007,000 after buying an additional 220,852 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company's stock.

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.

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