Western New England Bancorp (NASDAQ:WNEB) Share Price Breaks Below 200 Day Moving Average – Should You Sell?

Western New England Bancorp (NASDAQ:WNEB) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $13.65 and traded as low as $13.50. Western New England Bancorp shares last traded at $13.52, with a volume of 20,401 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on 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. Seaport Research Partners lowered Western New England Bancorp from a “buy” rating to 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 note on Wednesday, November 4th. Finally, Wall Street Zen raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Western New England Bancorp currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Western New England Bancorp Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50 day simple moving average is $13.75 and its 200-day simple moving average is $13.65. The stock has a market capitalization of $268.10 million, a price-to-earnings ratio of 13.52 and a beta of 0.73.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, October 27th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. Western New England Bancorp had a net margin of 14.53% and a return on equity of 8.04%. The firm had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.40 million. Research analysts anticipate that Western New England Bancorp will post 0.96 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. Western New England Bancorp’s payout ratio is currently 28.00%.

Insider Activity

In other news, Director Philip Smith sold 3,300 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total transaction of $45,804.00. Following the transaction, the director directly owned 5,800 shares of the company’s stock, valued at approximately $80,504. This trade represents a 36.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WNEB. BlackRock Inc. acquired a new position in shares of Western New England Bancorp during the second quarter valued at approximately $26,266,000. White Pine Capital LLC acquired a new stake in Western New England Bancorp in the third quarter worth approximately $2,847,000. Empowered Funds LLC acquired a new stake in Western New England Bancorp in the second quarter worth approximately $1,636,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Western New England Bancorp in the second quarter worth approximately $1,516,000. Finally, Oppenheimer & Close LLC boosted its stake in Western New England Bancorp by 89.5% during the 3rd quarter. Oppenheimer & Close LLC now owns 77,268 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 36,500 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc. is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. Westfield Bank traces its history to 1853 and serves individuals, businesses, and organizations in western Massachusetts and northern Connecticut. The bank offers deposit accounts, including checking and savings accounts and certificates of deposit, along with lending services such as commercial, residential mortgage, and consumer loans. It also provides business banking and cash-management services, as well as digital banking options.