Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report)'s share price crossed 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
Several research analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a "market perform" rating in a research report on Tuesday, December 24th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.13.
Read Our Latest Report on Berkshire Hills Bancorp
Berkshire Hills Bancorp Stock Performance
The firm's 50-day moving average is $28.67 and its 200 day moving average is $28.30. The stock has a market cap of $1.22 billion, a PE ratio of 19.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.
Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced 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%. As a group, research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.
Berkshire Hills Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be given 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 yield of 2.53%. Berkshire Hills Bancorp's payout ratio 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 on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by insiders.
Hedge Funds Weigh In On Berkshire Hills Bancorp
A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Berkshire Hills Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company's stock valued at $76,371,000 after purchasing an additional 10,579 shares in the last quarter. State Street Corp increased its holdings in shares of Berkshire Hills Bancorp by 0.9% in 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 in the last quarter. Wellington Management Group LLP increased its holdings in shares of Berkshire Hills Bancorp by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company's stock valued at $44,815,000 after purchasing an additional 293,784 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Berkshire Hills Bancorp by 20.8% in the 4th quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company's stock valued at $36,719,000 after purchasing an additional 222,162 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Berkshire Hills Bancorp in the 4th quarter valued at about $29,410,000. Hedge funds and other institutional investors own 83.07% of the company's stock.
About Berkshire Hills Bancorp
(
Get Free Report)
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.
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