Berkshire Hills Bancorp (NYSE:BHLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “
Separately, Piper Jaffray Companies reissued a “buy” rating and issued a $42.50 price target on shares of Berkshire Hills Bancorp in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $41.30.
Shares of Berkshire Hills Bancorp (NYSE BHLB) opened at $39.75 on Monday. The company has a market cap of $1,780.75, a PE ratio of 26.72 and a beta of 0.70. Berkshire Hills Bancorp has a fifty-two week low of $32.85 and a fifty-two week high of $40.00. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.
Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 11.37% and a return on equity of 7.09%. The business had revenue of $115.66 million for the quarter, compared to the consensus estimate of $115.50 million. equities research analysts anticipate that Berkshire Hills Bancorp will post 2.72 EPS for the current year.
In related news, Director William J. Ryan acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average cost of $37.87 per share, for a total transaction of $113,610.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick J. Sheehan acquired 8,938 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average price of $37.11 per share, for a total transaction of $331,689.18. Following the completion of the transaction, the director now owns 1,168 shares of the company’s stock, valued at approximately $43,344.48. The disclosure for this purchase can be found here. Over the last three months, insiders bought 14,438 shares of company stock worth $538,624. Insiders own 1.71% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. increased its position in shares of Berkshire Hills Bancorp by 564.0% in the fourth 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 during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Berkshire Hills Bancorp by 236.4% in the fourth 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 during the last quarter. Royal Bank of Canada increased its position in shares of 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 worth $182,000 after purchasing an additional 212 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Berkshire Hills Bancorp in the third quarter worth approximately $217,000. Finally, Intrust Bank NA bought a new position in shares of Berkshire Hills Bancorp in the fourth quarter worth approximately $212,000. Institutional investors own 68.88% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Berkshire Hills Bancorp (BHLB) Stock Rating Lowered by Zacks Investment Research” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/03/14/berkshire-hills-bancorp-bhlb-stock-rating-lowered-by-zacks-investment-research.html.
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.
Receive News & Ratings for Berkshire Hills Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.