Berkshire Hills Bancorp (NYSE:BHLB) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $28.67 and traded as low as $28.01. Berkshire Hills Bancorp shares last traded at $28.27, with a volume of 405,037 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BHLB shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a report on Tuesday, December 24th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Berkshire Hills Bancorp Stock Up 1.3 %

The business has a 50-day moving average of $28.67 and a 200 day moving average of $28.27. The company has a market capitalization of $1.21 billion, a PE ratio of 19.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.55%. Berkshire Hills Bancorp’s dividend payout ratio is 50.00%.

Insiders Place Their Bets

In related news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of BHLB. Barclays PLC raised its holdings in shares of Berkshire Hills Bancorp by 105.0% in the third quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock valued at $2,595,000 after acquiring an additional 49,356 shares in the last quarter. State Street Corp increased its position in Berkshire Hills Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock valued at $57,455,000 after purchasing an additional 18,307 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Berkshire Hills Bancorp by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock valued at $5,135,000 after purchasing an additional 72,402 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Berkshire Hills Bancorp by 13.7% in the 3rd quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock worth $25,654,000 after purchasing an additional 114,433 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Berkshire Hills Bancorp during the fourth quarter valued at approximately $6,672,000. 83.07% of the stock is owned by institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.