Berkshire Hills Bancorp, Inc. (BHLB) Given Consensus Recommendation of “Hold” by Analysts
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has earned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $40.38.
Several equities research analysts recently weighed in on the stock. FIG Partners reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $38.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. BidaskClub cut shares of Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies raised shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 target price for the company in a report on Thursday, September 7th.
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Berkshire Hills Bancorp (NYSE:BHLB) remained flat at $$36.55 on Thursday. The stock had a trading volume of 165,700 shares, compared to its average volume of 212,516. Berkshire Hills Bancorp has a 12-month low of $31.70 and a 12-month high of $40.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market cap of $1,654.52, a P/E ratio of 16.03 and a beta of 0.69.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, October 19th. The savings and loans company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. The business had revenue of $100.83 million during the quarter, compared to analysts’ expectations of $107.60 million. analysts expect that Berkshire Hills Bancorp will post 2.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.30%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 45.16%.
In other news, insider Michael P. Daly sold 25,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were 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 owns 103,670 shares of the company’s stock, valued at $3,501,972.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.82% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in Berkshire Hills Bancorp by 1.6% in the 1st quarter. Alliancebernstein L.P. now owns 44,345 shares of the savings and loans company’s stock valued at $1,599,000 after buying an additional 700 shares during the last quarter. Teachers Advisors LLC raised its holdings in Berkshire Hills Bancorp by 2.2% in the 1st quarter. Teachers Advisors LLC now owns 68,352 shares of the savings and loans company’s stock valued at $2,464,000 after buying an additional 1,458 shares during the last quarter. Vanguard Group Inc. raised its holdings in Berkshire Hills Bancorp by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 2,584,068 shares of the savings and loans company’s stock valued at $93,155,000 after buying an additional 239,543 shares during the last quarter. Geode Capital Management LLC raised its holdings in Berkshire Hills Bancorp by 16.6% in the 1st quarter. Geode Capital Management LLC now owns 316,336 shares of the savings and loans company’s stock valued at $11,403,000 after buying an additional 44,976 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in 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 buying an additional 200 shares during the last quarter. 74.64% 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.
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