Berkshire Hills Bancorp, Inc. (BHLB) Rating Lowered to Strong Sell at BidaskClub

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, August 8th.

Several other equities research analysts also recently commented on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 target price on shares of Berkshire Hills Bancorp in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. FIG Partners raised shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 target price on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $35.80.

Berkshire Hills Bancorp (NYSE:BHLB) traded up 0.15% on Tuesday, reaching $33.20. 274,310 shares of the company’s stock traded hands. The firm has a market capitalization of $1.33 billion, a PE ratio of 18.33 and a beta of 0.63. Berkshire Hills Bancorp has a 52-week low of $26.45 and a 52-week high of $38.65. The firm’s 50 day moving average price is $35.66 and its 200 day moving average price is $35.69.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The firm had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million. On average, analysts predict that Berkshire Hills Bancorp will post $2.28 EPS for the current fiscal year.

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In related news, EVP Richard M. Marotta sold 9,500 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the completion of the transaction, the executive vice president now owns 28,523 shares in the company, valued at $950,386.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard L. Murphy bought 1,000 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $34.25 per share, with a total value of $34,250.00. Following the acquisition, the director now directly owns 9,668 shares of the company’s stock, valued at approximately $331,129. The disclosure for this purchase can be found here. 2.82% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Karp Capital Management Corp acquired a new position in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $695,000. Bank of New York Mellon Corp boosted its position in shares of Berkshire Hills Bancorp by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 313,219 shares of the savings and loans company’s stock valued at $11,292,000 after buying an additional 13,596 shares during the last quarter. Bbva Compass Bancshares Inc. boosted its position in shares of Berkshire Hills Bancorp by 14.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 12,814 shares of the savings and loans company’s stock valued at $462,000 after buying an additional 1,600 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Berkshire Hills Bancorp by 48.5% in the first quarter. American Century Companies Inc. now owns 153,610 shares of the savings and loans company’s stock valued at $5,538,000 after buying an additional 50,164 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of Berkshire Hills Bancorp by 5.1% in the first quarter. LSV Asset Management now owns 1,024,420 shares of the savings and loans company’s stock valued at $36,930,000 after buying an additional 50,017 shares during the last quarter. Institutional investors and hedge funds own 62.77% of the company’s stock.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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