Piper Jaffray Companies restated their buy rating on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research note released on Tuesday. They currently have a $42.50 price target on the savings and loans company’s stock.
A number of other equities research analysts have also issued reports on BHLB. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Monday, September 11th. Jefferies Group reaffirmed a hold rating and set a $38.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, September 15th. BidaskClub raised shares of Berkshire Hills Bancorp from a strong sell rating to a sell rating in a report on Wednesday, September 13th. Finally, FIG Partners reaffirmed an outperform rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a report on Wednesday, September 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Berkshire Hills Bancorp has a consensus rating of Buy and a consensus price target of $41.30.
Shares of Berkshire Hills Bancorp (NYSE:BHLB) traded up $0.05 during midday trading on Tuesday, reaching $38.30. 105,757 shares of the company traded hands, compared to its average volume of 221,622. The stock has a market cap of $1,720.00, a price-to-earnings ratio of 20.70 and a beta of 0.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.91. Berkshire Hills Bancorp has a 12 month low of $32.85 and a 12 month high of $40.00.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $100.83 million during the quarter, compared to analyst estimates 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 EPS for the current fiscal year.
In other news, Director William J. Ryan acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $37.87 per share, with a total value of $113,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Carroll sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.50, for a total transaction of $77,000.00. Following the completion of the sale, the insider now directly owns 7,255 shares of the company’s stock, valued at approximately $279,317.50. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its holdings in shares of Berkshire Hills Bancorp by 140.3% in the third quarter. GSA Capital Partners LLP now owns 55,483 shares of the savings and loans company’s stock valued at $2,150,000 after purchasing an additional 32,394 shares during the period. California Public Employees Retirement System grew its holdings in shares of Berkshire Hills Bancorp by 1.9% in the third quarter. California Public Employees Retirement System now owns 112,776 shares of the savings and loans company’s stock valued at $4,370,000 after purchasing an additional 2,076 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Berkshire Hills Bancorp by 47.7% in the third quarter. Cubist Systematic Strategies LLC now owns 10,659 shares of the savings and loans company’s stock valued at $413,000 after purchasing an additional 3,441 shares during the period. Jane Street Group LLC purchased a new stake in shares of Berkshire Hills Bancorp in the third quarter valued at about $294,000. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Berkshire Hills Bancorp by 19.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 122,824 shares of the savings and loans company’s stock valued at $4,758,000 after purchasing an additional 19,800 shares during the period. 67.21% of the stock is owned by hedge funds and other institutional investors.
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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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