Berkshire Hills Bancorp (BHLB) Cut to “Sell” at Compass Point

Berkshire Hills Bancorp (NYSE:BHLB) was downgraded by stock analysts at Compass Point from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, The Fly reports.

A number of other equities research analysts have also recently weighed in on BHLB. Zacks Investment Research cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. Piper Jaffray Companies cut Berkshire Hills Bancorp from an “overweight” rating to a “neutral” rating in a report on Friday. Finally, ValuEngine cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.70.

BHLB opened at $42.85 on Tuesday. The company has a market cap of $1.95 billion, a PE ratio of 18.71 and a beta of 0.66. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.26. Berkshire Hills Bancorp has a twelve month low of $32.85 and a twelve month high of $44.10.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Monday, April 23rd. The savings and loans company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $114.99 million for the quarter, compared to analysts’ expectations of $118.90 million. Berkshire Hills Bancorp had a return on equity of 7.39% and a net margin of 12.82%. analysts anticipate that Berkshire Hills Bancorp will post 2.74 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Berkshire Hills Bancorp by 564.0% during the 4th quarter. Advisor Group Inc. now owns 2,875 shares of the savings and loans company’s stock worth $105,000 after purchasing an additional 2,442 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Berkshire Hills Bancorp by 236.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,162 shares of the savings and loans company’s stock worth $116,000 after purchasing an additional 2,222 shares in the last quarter. SG Americas Securities LLC purchased a new position in Berkshire Hills Bancorp during the 1st quarter worth approximately $159,000. Amalgamated Bank purchased a new position in shares of Berkshire Hills Bancorp during the 1st quarter valued at $201,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in shares of Berkshire Hills Bancorp during the 1st quarter valued at $209,000. 70.85% of the stock is currently owned by institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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