Berkshire Hills Bancorp (NYSE:BHLB) Stock Price Passes Below 50 Day Moving Average – Should You 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods increased their target price on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research report on Tuesday, December 24th. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. 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’s stock. According to data from MarketBeat.com, Berkshire Hills Bancorp presently has an average rating of “Moderate Buy” and an average price target of $31.13.

Berkshire Hills Bancorp Stock Up 1.3 %

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

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

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed 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 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 (DPR) is currently 50.00%.

Insiders Place Their Bets

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after purchasing an additional 821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Berkshire Hills Bancorp in the 3rd quarter worth approximately $34,000. Quarry LP raised its stake in Berkshire Hills Bancorp by 142.7% during the 4th quarter. Quarry LP now owns 1,291 shares of the savings and loans company’s stock valued at $37,000 after buying an additional 759 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 805.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company’s stock valued at $39,000 after buying an additional 1,224 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Berkshire Hills Bancorp by 2,259.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company’s stock worth $64,000 after buying an additional 2,169 shares during the last quarter. 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.