Berkshire Hills Bancorp, Inc. (NYSE:BHLB)‘s stock had its “hold” rating reaffirmed by Jefferies Group LLC in a research report issued on Wednesday. They presently have a $40.00 price target on the savings and loans company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 2.17% from the stock’s current price.

Several other brokerages have also recently commented on BHLB. Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 price target on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday. BidaskClub raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Finally, FIG Partners reissued an “outperform” rating and set a $41.00 price target on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.92.

Shares of Berkshire Hills Bancorp (BHLB) traded up 0.13% during mid-day trading on Wednesday, hitting $39.15. The company had a trading volume of 211,752 shares. The company has a market capitalization of $1.56 billion, a P/E ratio of 21.62 and a beta of 0.67. Berkshire Hills Bancorp has a one year low of $27.25 and a one year high of $39.75. The firm’s 50-day moving average price is $35.60 and its 200 day moving average price is $35.78.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The firm had revenue of $102.34 million during the quarter, compared to analyst estimates of $102.75 million. Analysts predict that Berkshire Hills Bancorp will post $2.26 earnings per share for the current fiscal year.

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In other news, EVP Richard M. Marotta sold 9,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the executive vice president now directly owns 28,523 shares of the company’s stock, valued at approximately $950,386.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Daly sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $33.78, for a total transaction of $844,500.00. Following the completion of the sale, the insider now directly owns 103,670 shares in the company, valued at $3,501,972.60. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 1st quarter valued at about $101,000. New York State Teachers Retirement System raised its holdings in shares of Berkshire Hills Bancorp by 7.4% in the 1st quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock valued at $105,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC bought a new stake in shares of Berkshire Hills Bancorp in the 1st quarter valued at about $109,000. Quantbot Technologies LP bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter valued at about $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Berkshire Hills Bancorp by 263.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock valued at $121,000 after purchasing an additional 2,500 shares during the period. 74.09% of the stock is currently owned by 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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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