Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been given an average rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $37.00.
A number of equities research analysts have recently commented on the company. BidaskClub raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 target price on shares of Berkshire Hills Bancorp in a report on Monday, May 15th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 target price on shares of Berkshire Hills Bancorp in a report on Wednesday, May 3rd. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, April 11th. Finally, FIG Partners upgraded Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 23rd.
Shares of Berkshire Hills Bancorp (NYSE:BHLB) traded up 1.02% during trading on Tuesday, hitting $35.70. The stock had a trading volume of 17,994 shares. The company has a market cap of $1.33 billion, a PE ratio of 19.71 and a beta of 0.63. The stock’s 50 day moving average is $36.02 and its 200-day moving average is $35.76. Berkshire Hills Bancorp has a 12-month low of $26.25 and a 12-month high of $38.65.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million. Berkshire Hills Bancorp had a return on equity of 7.31% and a net margin of 15.03%. Analysts forecast that Berkshire Hills Bancorp will post $2.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, August 8th. Berkshire Hills Bancorp’s payout ratio is currently 46.15%.
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A number of hedge funds and other institutional investors have recently modified their holdings of BHLB. Two Sigma Securities LLC purchased a new position in shares of Berkshire Hills Bancorp during the first quarter worth $317,000. Sit Investment Associates Inc. boosted its position in shares of Berkshire Hills Bancorp by 306.1% in the first quarter. Sit Investment Associates Inc. now owns 18,375 shares of the savings and loans company’s stock worth $662,000 after buying an additional 13,850 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Berkshire Hills Bancorp by 0.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,500 shares of the savings and loans company’s stock worth $1,857,000 after buying an additional 200 shares during the last quarter. Irving Magee Investment Management purchased a new position in shares of Berkshire Hills Bancorp during the first quarter worth $2,769,000. Finally, First Manhattan Co. boosted its position in shares of Berkshire Hills Bancorp by 5,133.3% in the first quarter. First Manhattan Co. now owns 39,250 shares of the savings and loans company’s stock worth $1,087,000 after buying an additional 38,500 shares during the last quarter. Hedge funds and other institutional investors own 62.53% of the company’s stock.
About Berkshire Hills Bancorp
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.
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