Berkshire Hills Bancorp, Inc. (BHLB) Rating Reiterated by Jefferies Group LLC
Berkshire Hills Bancorp, Inc. (NYSE:BHLB)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a report issued on Friday. They presently have a $38.00 price target on the savings and loans company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 10.47% from the company’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, June 27th. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. FIG Partners upgraded shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 23rd. Finally, Piper Jaffray Companies upgraded shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 price target for the company in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $37.30.
Shares of Berkshire Hills Bancorp (NYSE BHLB) traded up 1.33% on Friday, hitting $34.40. The company’s stock had a trading volume of 673,441 shares. Berkshire Hills Bancorp has a one year low of $26.80 and a one year high of $38.65. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 19.00 and a beta of 0.65. The stock has a 50-day moving average price of $34.42 and a 200 day moving average price of $35.45.
Berkshire Hills Bancorp (NYSE:BHLB) last released 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 company had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. Equities research analysts predict that Berkshire Hills Bancorp will post $2.29 EPS for the current year.
In related news, EVP Richard M. Marotta sold 9,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $950,386.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Daly sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $33.78, for a total transaction of $844,500.00. Following the transaction, the insider now directly owns 103,670 shares of the company’s stock, valued at approximately $3,501,972.60. The disclosure for this sale can be found here. 2.82% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Berkshire Hills Bancorp during the 1st quarter worth approximately $101,000. New York State Teachers Retirement System boosted its position in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC purchased a new position in shares of Berkshire Hills Bancorp during the 1st quarter worth approximately $109,000. Quantbot Technologies LP purchased a new position in shares of Berkshire Hills Bancorp during the 2nd quarter worth approximately $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Berkshire Hills Bancorp by 263.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 2,500 shares during the period. 74.11% of the stock is owned by hedge funds and other institutional investors.
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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