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

Western New England Bancorp (NASDAQ:WNEB) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WNEB. Zacks Research downgraded Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Piper Sandler restated an “overweight” rating and issued a $15.00 target price on shares of Western New England Bancorp in a research report on Wednesday, April 29th. Hovde Group upgraded Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. Weiss Ratings upgraded Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Seaport Research Partners upped their target price on Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Western New England Bancorp Price Performance

The business has a 50-day moving average price of $13.40 and a 200 day moving average price of $13.03. The company has a market cap of $269.41 million, a price-to-earnings ratio of 15.05 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $21.82 million during the quarter, compared to the consensus estimate of $21.96 million. Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%. As a group, research analysts expect that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, May 13th. Western New England Bancorp’s dividend payout ratio (DPR) is currently 31.46%.

Insider Buying and Selling at Western New England Bancorp

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total transaction of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares in the company, valued at $188,524.16. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip R. Smith sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.17, for a total value of $39,510.00. Following the completion of the sale, the director directly owned 7,497 shares in the company, valued at approximately $98,735.49. This represents a 28.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western New England Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC grew its position in shares of Western New England Bancorp by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,130 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 726 shares during the last quarter. Bank of America Corp DE grew its position in shares of Western New England Bancorp by 3.2% in the first quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock valued at $792,000 after purchasing an additional 1,884 shares during the last quarter. Empowered Funds LLC grew its position in shares of Western New England Bancorp by 2.0% in the fourth quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock valued at $1,420,000 after purchasing an additional 2,171 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Western New England Bancorp by 1.0% in 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 purchasing an additional 2,171 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Western New England Bancorp by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 2,405 shares during the last quarter. 67.95% of the stock is owned by institutional investors and hedge funds.

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.