Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director Patrick J. Sheehan acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $37.00 per share, with a total value of $37,000.00. Following the acquisition, the director now owns 1,168 shares of the company’s stock, valued at approximately $43,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) traded up $0.30 during trading on Friday, reaching $36.90. The company had a trading volume of 64,147 shares, compared to its average volume of 218,511. The stock has a market capitalization of $1,689.32, a price-to-earnings ratio of 16.22 and a beta of 0.70. Berkshire Hills Bancorp, Inc. has a 52 week low of $32.85 and a 52 week high of $40.00. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $115.66 million during the quarter, compared to analyst estimates of $115.50 million. Berkshire Hills Bancorp had a return on equity of 7.44% and a net margin of 11.37%. equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of BHLB. Vanguard Group Inc. grew its stake 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 valued at $109,814,000 after buying an additional 540,080 shares during the period. Koch Industries Inc. bought a new stake in Berkshire Hills Bancorp in the 2nd quarter valued at about $288,000. Peregrine Capital Management LLC bought a new stake in Berkshire Hills Bancorp in the 3rd quarter valued at about $10,514,000. The Manufacturers Life Insurance Company raised its stake in Berkshire Hills Bancorp by 29.0% in the 2nd 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 during the period. Finally, Hillcrest Asset Management LLC bought a new stake in Berkshire Hills Bancorp in the 3rd quarter valued at about $8,344,000. Institutional investors own 66.82% of the company’s stock.
BHLB has been the subject of a number of research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $39.50 price objective on shares of Berkshire Hills Bancorp in a report on Sunday, October 22nd. Zacks Investment Research cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, BidaskClub cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.30.
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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.
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