Berkshire Hills Bancorp (NYSE:BHLB) Share Price Crosses Below 50-Day Moving Average of $21.97

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $21.97 and traded as low as $21.16. Berkshire Hills Bancorp shares last traded at $21.33, with a volume of 189,054 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Berkshire Hills Bancorp has an average rating of “Hold” and a consensus target price of $25.00.

Berkshire Hills Bancorp Price Performance

The firm has a 50-day moving average of $21.97 and a 200-day moving average of $22.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $923.38 million, a P/E ratio of 42.66 and a beta of 0.89.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. The firm had revenue of $169.32 million for the quarter, compared to the consensus estimate of $107.89 million. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, analysts predict that Berkshire Hills Bancorp, Inc. will post 2.06 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, June 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.38%. Berkshire Hills Bancorp’s payout ratio is 144.00%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Berkshire Hills Bancorp in the first quarter worth about $146,000. ProShare Advisors LLC boosted its holdings in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after buying an additional 601 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp during the fourth quarter valued at approximately $219,000. Teton Advisors Inc. purchased a new stake in Berkshire Hills Bancorp during the fourth quarter valued at approximately $240,000. Finally, J.W. Cole Advisors Inc. bought a new position in Berkshire Hills Bancorp in the fourth quarter worth approximately $258,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.