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

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $29.56 and traded as low as $27.55. Berkshire Hills Bancorp shares last traded at $27.86, with a volume of 354,557 shares trading hands.

Analyst Ratings Changes

BHLB has been the subject of several research analyst reports. Royal Bank of Canada cut their price target on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Keefe, Bruyette & Woods lifted their target price on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a report on Tuesday, December 24th. Four analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Berkshire Hills Bancorp has an average rating of “Moderate Buy” and an average price target of $29.70.

Berkshire Hills Bancorp Trading Up 0.1 %

The stock has a fifty day moving average of $29.56 and a 200-day moving average of $27.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $1.20 billion, a PE ratio of 29.33 and a beta of 0.89.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The company had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $119.61 million. During the same quarter in the previous year, the business earned $0.50 EPS. Berkshire Hills Bancorp’s revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, November 14th. Berkshire Hills Bancorp’s payout ratio is currently 75.79%.

Hedge Funds Weigh In On Berkshire Hills Bancorp

A number of large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Berkshire Hills Bancorp during the 3rd quarter valued at $34,000. nVerses Capital LLC raised its position in shares of Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after acquiring an additional 1,400 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Berkshire Hills Bancorp in the 2nd quarter worth $104,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Berkshire Hills Bancorp by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after acquiring an additional 2,169 shares in the last quarter. Finally, Joel Isaacson & Co. LLC bought a new position in shares of Berkshire Hills Bancorp in the 3rd quarter worth $211,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Company Profile

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.