Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $43.00 target price on the savings and loans company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.97% from the company’s previous close.

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. “

A number of other research analysts have also issued reports on BHLB. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Piper Jaffray Companies upgraded shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 target price on the stock in a research report on Thursday, September 7th. Jefferies Group LLC restated a “hold” rating and set a $38.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. FIG Partners restated an “outperform” rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $38.58.

Berkshire Hills Bancorp (NYSE:BHLB) traded up 1.16% during midday trading on Tuesday, reaching $39.10. The company’s stock had a trading volume of 190,458 shares. The firm has a 50 day moving average price of $35.43 and a 200-day moving average price of $35.75. The firm has a market cap of $1.56 billion, a P/E ratio of 21.59 and a beta of 0.67. Berkshire Hills Bancorp has a 52 week low of $27.25 and a 52 week high of $39.75.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The firm had revenue of $102.34 million for the quarter, compared to analysts’ expectations of $102.75 million. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. On average, analysts forecast that Berkshire Hills Bancorp will post $2.26 earnings per share for the current fiscal year.

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In other news, Director Richard L. Murphy purchased 1,000 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $34.25 per share, for a total transaction of $34,250.00. Following the transaction, the director now owns 9,668 shares of the company’s stock, valued at approximately $331,129. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard M. Marotta sold 9,500 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $33.32, for a total transaction of $316,540.00. Following the sale, the executive vice president now owns 28,523 shares in the company, valued at approximately $950,386.36. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Berkshire Hills Bancorp by 20.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock worth $109,814,000 after acquiring an additional 540,080 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Berkshire Hills Bancorp by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,023,639 shares of the savings and loans company’s stock worth $106,281,000 after acquiring an additional 202,898 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Berkshire Hills Bancorp by 29.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,137,717 shares of the savings and loans company’s stock worth $39,991,000 after acquiring an additional 255,429 shares in the last quarter. State Street Corp boosted its position in shares of Berkshire Hills Bancorp by 3.8% during the 2nd quarter. State Street Corp now owns 1,096,485 shares of the savings and loans company’s stock worth $38,546,000 after acquiring an additional 39,632 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Berkshire Hills Bancorp by 2.8% during the 2nd quarter. LSV Asset Management now owns 1,053,520 shares of the savings and loans company’s stock worth $37,031,000 after acquiring an additional 29,100 shares in the last quarter. Institutional investors and hedge funds own 74.09% 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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