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

Shares of Western New England Bancorp (NASDAQ:WNEB) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $13.21 and traded as low as $13.05. Western New England Bancorp shares last traded at $13.07, with a volume of 32,119 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on WNEB. Weiss Ratings upgraded Western New England Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. Piper Sandler initiated coverage on shares of Western New England Bancorp in a research report on Monday, March 16th. They set a “neutral” rating and a $14.00 target price for the company. Finally, Zacks Research raised shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Western New England Bancorp presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Western New England Bancorp Stock Performance

The business has a 50-day simple moving average of $13.21 and a 200 day simple moving average of $12.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $264.81 million, a PE ratio of 17.20 and a beta of 0.79.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $22.01 million for the quarter, compared to analysts’ expectations of $18.62 million. Western New England Bancorp had a return on equity of 6.31% and a net margin of 11.64%. Equities research analysts forecast that Western New England Bancorp will post 0.6 EPS for the current year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.1%. Western New England Bancorp’s dividend payout ratio is 36.84%.

Insider Activity at Western New England Bancorp

In related news, Director Philip R. Smith sold 3,000 shares of Western New England Bancorp 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 transaction, the director owned 7,497 shares in the company, valued at approximately $98,735.49. The trade was a 28.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Western New England Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of 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 worth $4,007,000 after acquiring an additional 220,852 shares during the period. Fourthstone LLC lifted its holdings 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 purchasing an additional 32,560 shares in the last quarter. State Street Corp boosted its stake in Western New England Bancorp by 7.1% in the 4th 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 during the period. Mangrove Partners IM LLC grew its holdings in Western New England Bancorp by 10.0% during the 3rd quarter. Mangrove Partners IM LLC now owns 225,380 shares of the financial services provider’s stock valued at $2,707,000 after buying an additional 20,489 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised 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 valued at $2,822,000 after buying an additional 2,171 shares during the last quarter. 67.95% of the stock is 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.