Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “

Several other research firms have also recently weighed in on BHLB. Jefferies Group LLC restated a “hold” rating and issued a $38.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, May 5th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 price objective on shares of Berkshire Hills Bancorp in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, FIG Partners upgraded shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.80.

Berkshire Hills Bancorp (NYSE:BHLB) traded down 0.69% during trading on Monday, reaching $35.95. 207,258 shares of the company were exchanged. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 19.97 and a beta of 0.62. The firm’s 50 day moving average price is $35.96 and its 200-day moving average price is $35.78. Berkshire Hills Bancorp has a one year low of $25.90 and a one year high of $38.65.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Monday, April 24th. The savings and loans company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The company had revenue of $101.64 million for the quarter, compared to analysts’ expectations of $95.90 million. Berkshire Hills Bancorp had a net margin of 15.39% and a return on equity of 7.05%. On average, equities research analysts predict that Berkshire Hills Bancorp will post $2.27 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth approximately $101,000. New York State Teachers Retirement System boosted its position in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after buying an additional 200 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth approximately $109,000. Legal & General Group Plc boosted its position in shares of Berkshire Hills Bancorp by 16.8% in the first quarter. Legal & General Group Plc now owns 4,338 shares of the savings and loans company’s stock worth $118,000 after buying an additional 625 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its position in shares of Berkshire Hills Bancorp by 31.2% in the third quarter. Sit Investment Associates Inc. now owns 4,525 shares of the savings and loans company’s stock worth $125,000 after buying an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 63.90% 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.

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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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