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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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