Berkshire Hills Bancorp, Inc. (BHLB) Receives Average Rating of “Hold” from Analysts

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have received an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $40.38.

A number of research analysts recently commented on BHLB shares. BidaskClub raised shares of Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Monday, September 18th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $39.50 target price on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd.

Berkshire Hills Bancorp (NYSE:BHLB) opened at $36.80 on Friday. 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 company has a market cap of $1,645.47, a price-to-earnings ratio of 19.79 and a beta of 0.69. Berkshire Hills Bancorp has a 52-week low of $32.85 and a 52-week high of $40.00.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $100.83 million for the quarter, compared to the consensus estimate of $107.60 million. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. research analysts predict that Berkshire Hills Bancorp will post 2.29 earnings per share for the current fiscal year.

In other Berkshire Hills Bancorp news, Director James Williar Dunlaevy sold 7,455 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $39.30, for a total transaction of $292,981.50. Following the transaction, the director now directly owns 67,747 shares of the company’s stock, valued at approximately $2,662,457.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Carroll sold 2,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $38.50, for a total transaction of $77,000.00. Following the transaction, the insider now directly owns 7,255 shares in the company, valued at $279,317.50. The disclosure for this sale can be found here. Company insiders own 2.82% of the company’s stock.

A number of institutional investors have recently modified their holdings of BHLB. Dimensional Fund Advisors LP boosted its holdings in shares of Berkshire Hills Bancorp by 6.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,215,961 shares of the savings and loans company’s stock valued at $124,617,000 after acquiring an additional 192,322 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 20.9% in the second quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock valued at $109,814,000 after acquiring an additional 540,080 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Berkshire Hills Bancorp by 29.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,137,717 shares of the savings and loans company’s stock valued at $39,991,000 after acquiring an additional 255,429 shares in the last quarter. State Street Corp boosted its holdings in shares of Berkshire Hills Bancorp by 3.8% in the second quarter. State Street Corp now owns 1,096,485 shares of the savings and loans company’s stock valued at $38,546,000 after acquiring an additional 39,632 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Berkshire Hills Bancorp by 17.6% in the third quarter. Allianz Asset Management GmbH now owns 1,061,154 shares of the savings and loans company’s stock valued at $41,119,000 after acquiring an additional 158,961 shares in the last quarter. 67.21% of the stock is currently owned by institutional investors.

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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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