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

by · The Markets Daily

Western New England Bancorp (NASDAQ:WNEB – Get Free Report)’s stock 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WNEB shares. Seaport Research Partners cut Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 29th. Zacks Research downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Piper Sandler increased their price target on shares of 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 shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Western New England Bancorp in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.50.

Get Our Latest Stock Analysis on Western New England Bancorp

Western New England Bancorp Price Performance

The stock’s 50 day simple moving average is $14.03 and its 200-day simple moving average is $13.62. The firm has a market cap of $275.09 million, a price-to-earnings ratio of 16.33 and a beta of 0.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92.

Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 EPS 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 company had revenue of $27.11 million for the quarter, compared to analyst estimates of $22.74 million. Equities research analysts anticipate that Western New England Bancorp will post 0.94 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.07 per share. The ex-dividend date of this dividend 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 payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Odyssean LLC acquired a new position in Western New England Bancorp during the second quarter valued at $177,000. Empowered Funds LLC acquired a new stake in Western New England Bancorp during the 2nd quarter worth about $1,636,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Western New England Bancorp during the 2nd quarter valued at about $1,516,000. BlackRock Inc. purchased a new position in shares of Western New England Bancorp during the 2nd quarter valued at about $26,266,000. Finally, Deutsche Bank AG acquired a new position in shares of Western New England Bancorp in the 2nd quarter valued at about $239,000. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

About Western New England Bancorp

(Get Free Report)

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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