Western New England Bancorp (NASDAQ:WNEB) Shares Cross Below Fifty Day Moving Average – Here’s Why

Western New England Bancorp, Inc. (NASDAQ:WNEB) passed below its fifty day moving average during trading on Friday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

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

Western New England Bancorp Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $9.23 and a 200-day simple moving average of $9.04. The firm has a market cap of $185.90 million, a P/E ratio of 16.00 and a beta of 0.71.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share (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 period in the previous year, the company posted $0.12 EPS. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, February 12th. Western New England Bancorp’s payout ratio is presently 50.00%.

Hedge Funds Weigh In On Western New England Bancorp

Large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC increased its holdings in Western New England Bancorp by 483.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 7,314 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 6,060 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Western New England Bancorp during the fourth quarter worth $108,000. Y Intercept Hong Kong Ltd bought a new stake in Western New England Bancorp during the fourth quarter worth $120,000. Raymond James Financial Inc. bought a new position in Western New England Bancorp during the 4th quarter valued at $209,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Western New England Bancorp during the 4th quarter worth $253,000. Institutional investors own 67.95% of the company’s stock.

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.