Berkshire Hills Bancorp, Inc. (NYSE:BHLB)‘s stock had its “outperform” rating reiterated by equities research analysts at FIG Partners in a research note issued on Wednesday. They currently have a $41.00 price objective on the savings and loans company’s stock. FIG Partners’ target price would indicate a potential upside of 15.01% from the stock’s current price.

BHLB has been the subject of several other reports. Jefferies Group LLC reissued a “hold” rating and issued a $38.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, September 15th. BidaskClub cut Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Piper Jaffray Companies raised 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. Finally, Zacks Investment Research raised 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Berkshire Hills Bancorp has a consensus rating of “Hold” and a consensus target price of $38.08.

Berkshire Hills Bancorp (NYSE BHLB) remained flat at $35.65 during mid-day trading on Wednesday. 350,178 shares of the company traded hands. Berkshire Hills Bancorp has a 12-month low of $26.80 and a 12-month high of $38.65. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.69 and a beta of 0.65. The stock has a 50-day moving average price of $34.32 and a 200-day moving average price of $35.44.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $102.34 million during the quarter, compared to analysts’ expectations of $102.75 million. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. Analysts anticipate that Berkshire Hills Bancorp will post $2.29 EPS for the current fiscal year.

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In related news, insider Michael P. Daly sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $33.78, for a total value of $844,500.00. Following the completion of the transaction, the insider now directly owns 103,670 shares of the company’s stock, valued at approximately $3,501,972.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard L. Murphy acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $34.25 per share, with a total value of $34,250.00. Following the completion of the purchase, the director now directly owns 9,668 shares in the company, valued at $331,129. The disclosure for this purchase can be found here. Company insiders own 1.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHLB. Russell Investments Group Ltd. increased its position in Berkshire Hills Bancorp by 0.5% during the first quarter. Russell Investments Group Ltd. now owns 52,397 shares of the savings and loans company’s stock worth $1,889,000 after buying an additional 279 shares in the last quarter. Wells Fargo & Company MN increased its position in Berkshire Hills Bancorp by 115.1% during the first quarter. Wells Fargo & Company MN now owns 82,145 shares of the savings and loans company’s stock worth $2,963,000 after buying an additional 43,960 shares in the last quarter. American Century Companies Inc. increased its position in Berkshire Hills Bancorp by 48.5% during the first quarter. American Century Companies Inc. now owns 153,610 shares of the savings and loans company’s stock worth $5,538,000 after buying an additional 50,164 shares in the last quarter. Bank of New York Mellon Corp increased its position in Berkshire Hills Bancorp by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 313,219 shares of the savings and loans company’s stock worth $11,292,000 after buying an additional 13,596 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in Berkshire Hills Bancorp during the first quarter worth $695,000. 74.09% of the stock is owned by hedge funds and other institutional investors.

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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