DA Davidson began coverage on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm set a “buy” rating and a $36.00 price target on the savings and loans company’s stock. DA Davidson’s target price indicates a potential upside of 16.77% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of China Southern Airlines from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Sandler O’Neill cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Tuesday, July 2nd. TheStreet raised shares of WillScot from a “d-” rating to a “c-” rating in a research note on Wednesday, May 8th. Piper Jaffray Companies set a $360.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Berkshire Hills Bancorp presently has a consensus rating of “Hold” and a consensus target price of $31.80.
Shares of NYSE BHLB traded down $0.06 during mid-day trading on Thursday, reaching $30.83. 142,744 shares of the company’s stock traded hands, compared to its average volume of 280,394. The company has a market capitalization of $1.41 billion, a PE ratio of 11.38 and a beta of 1.04. The business has a 50-day moving average of $30.36. Berkshire Hills Bancorp has a 1-year low of $25.77 and a 1-year high of $44.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91.
Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Monday, April 29th. The savings and loans company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The company had revenue of $107.18 million during the quarter, compared to analysts’ expectations of $114.40 million. Berkshire Hills Bancorp had a net margin of 17.74% and a return on equity of 8.19%. As a group, sell-side analysts anticipate that Berkshire Hills Bancorp will post 2.61 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. raised its stake in Berkshire Hills Bancorp by 3.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 165,000 shares of the savings and loans company’s stock worth $5,179,000 after acquiring an additional 5,000 shares during the period. Beese Fulmer Investment Management Inc. bought a new stake in shares of Berkshire Hills Bancorp during the second quarter valued at approximately $382,000. First Trust Advisors LP raised its position in shares of Berkshire Hills Bancorp by 230.8% during the first quarter. First Trust Advisors LP now owns 44,275 shares of the savings and loans company’s stock valued at $1,206,000 after buying an additional 30,890 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Berkshire Hills Bancorp by 37.5% during the first quarter. Westwood Holdings Group Inc. now owns 1,088,889 shares of the savings and loans company’s stock valued at $29,661,000 after buying an additional 297,201 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Berkshire Hills Bancorp by 2.1% during the first quarter. OppenheimerFunds Inc. now owns 513,708 shares of the savings and loans company’s stock valued at $13,993,000 after buying an additional 10,404 shares during the last quarter. Institutional investors and hedge funds own 77.38% of the company’s stock.
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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