Berkshire Hills Bancorp’s (NYSE:BHLB) “Buy” Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research report released on Tuesday, January 9th. The firm currently has a $42.50 price objective on the savings and loans company’s stock.

A number of other analysts have also recently weighed in on BHLB. Zacks Investment Research raised Berkshire Hills Bancorp from a hold rating to a buy rating and set a $40.00 price objective for the company in a research report on Monday, September 25th. BidaskClub raised Berkshire Hills Bancorp from a sell rating to a hold rating in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research note on Tuesday, October 3rd. FIG Partners reaffirmed an outperform rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research note on Wednesday, September 20th. Finally, Jefferies Group reaffirmed a hold rating and issued a $40.00 price objective on shares of Berkshire Hills Bancorp in a research note on Wednesday, October 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Berkshire Hills Bancorp presently has a consensus rating of Buy and a consensus price target of $41.30.

Shares of Berkshire Hills Bancorp (BHLB) opened at $38.15 on Tuesday. The stock has a market capitalization of $1,727.81, a PE ratio of 16.59 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. Berkshire Hills Bancorp has a 1 year low of $32.85 and a 1 year high of $40.00.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.44% and a net margin of 11.37%. The firm had revenue of $115.66 million during the quarter, compared to analysts’ expectations of $115.50 million. research analysts anticipate that Berkshire Hills Bancorp will post 2.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.22 per share. This is a boost from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.31%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 56.76%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Berkshire Hills Bancorp by 4.3% in the second quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock valued at $182,000 after buying an additional 212 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Berkshire Hills Bancorp by 0.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,800 shares of the savings and loans company’s stock valued at $1,821,000 after buying an additional 300 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Berkshire Hills Bancorp by 11.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock valued at $110,000 after buying an additional 318 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Berkshire Hills Bancorp by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,690 shares of the savings and loans company’s stock valued at $306,000 after buying an additional 400 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Berkshire Hills Bancorp by 7.3% during the second quarter. Legal & General Group Plc now owns 8,539 shares of the savings and loans company’s stock valued at $300,000 after purchasing an additional 582 shares during the last quarter. 67.23% of the stock is currently owned by institutional investors and hedge funds.

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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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