Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $33.00.
BHLB has been the topic of several recent analyst reports. Zacks Investment Research lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Compass Point raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 24th. DA Davidson reaffirmed a “buy” rating on shares of Berkshire Hills Bancorp in a research note on Monday, July 22nd. ValuEngine raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Sandler O’Neill lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research note on Tuesday, July 2nd.
In related news, Director Rheo A. Brouillard sold 9,454 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $32.80, for a total transaction of $310,091.20. Following the transaction, the director now owns 21,004 shares of the company’s stock, valued at approximately $688,931.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 10.76% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BHLB. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Berkshire Hills Bancorp by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,878 shares of the savings and loans company’s stock worth $84,000 after purchasing an additional 629 shares during the period. Meeder Asset Management Inc. purchased a new stake in Berkshire Hills Bancorp during the 2nd quarter worth about $29,000. New York State Teachers Retirement System increased its holdings in Berkshire Hills Bancorp by 6.2% during the 2nd quarter. New York State Teachers Retirement System now owns 17,077 shares of the savings and loans company’s stock worth $536,000 after purchasing an additional 1,000 shares during the period. Royal Bank of Canada increased its holdings in Berkshire Hills Bancorp by 16.0% during the 2nd quarter. Royal Bank of Canada now owns 7,920 shares of the savings and loans company’s stock worth $248,000 after purchasing an additional 1,090 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in Berkshire Hills Bancorp by 11.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the savings and loans company’s stock worth $537,000 after purchasing an additional 1,800 shares during the period. 72.38% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BHLB traded up $0.11 during trading hours on Thursday, hitting $30.37. The company had a trading volume of 99,406 shares, compared to its average volume of 255,048. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $29.82 and a 200 day moving average of $30.06. The company has a market cap of $1.54 billion, a P/E ratio of 11.21 and a beta of 1.09. Berkshire Hills Bancorp has a 1 year low of $25.77 and a 1 year high of $35.99.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $109.11 million during the quarter, compared to analysts’ expectations of $114.10 million. Berkshire Hills Bancorp had a return on equity of 7.76% and a net margin of 16.28%. On average, analysts forecast that Berkshire Hills Bancorp will post 2.44 earnings per share for the current year.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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