Western New England Bancorp (NASDAQ:WNEB) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Western New England Bancorp, Inc. (NASDAQ:WNEB)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.23 and traded as low as $8.94. Western New England Bancorp shares last traded at $8.96, with a volume of 58,625 shares.

Analysts Set New Price Targets

Separately, Seaport Res Ptn raised shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th.

Western New England Bancorp Stock Up 0.4 %

The firm has a 50 day simple moving average of $9.23 and a two-hundred day simple moving average of $9.04. The stock has a market capitalization of $185.90 million, a P/E ratio of 16.00 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.62.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, equities research analysts expect that Western New England Bancorp, Inc. will post 0.6 earnings per share for the current year.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.07 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.13%. Western New England Bancorp’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Investors Weigh In On Western New England Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in WNEB. Dimensional Fund Advisors LP lifted its stake in Western New England Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,495,233 shares of the financial services provider’s stock valued at $13,756,000 after purchasing an additional 5,560 shares during the last quarter. Fourthstone LLC increased its holdings in shares of Western New England Bancorp by 18.3% during the fourth quarter. Fourthstone LLC now owns 910,788 shares of the financial services provider’s stock worth $8,379,000 after buying an additional 140,981 shares in the last quarter. Susquehanna International Group LLP lifted its stake in shares of Western New England Bancorp by 186.2% in the 4th quarter. Susquehanna International Group LLP now owns 284,223 shares of the financial services provider’s stock valued at $2,615,000 after acquiring an additional 184,907 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Western New England Bancorp by 22.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 186,592 shares of the financial services provider’s stock valued at $1,717,000 after acquiring an additional 34,297 shares in the last quarter. Finally, Millennium Management LLC grew its position in Western New England Bancorp by 2.2% during the 4th quarter. Millennium Management LLC now owns 129,892 shares of the financial services provider’s stock worth $1,195,000 after acquiring an additional 2,735 shares during the last quarter. 67.95% of the stock is owned by institutional investors.

About Western New England Bancorp

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.