Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have been assigned an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.33.
Several analysts have weighed in on BHLB shares. TheStreet downgraded shares of Berkshire Hills Bancorp from a “b-” rating to a “c+” rating in a research report on Friday, January 4th. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. FIG Partners cut shares of Berkshire Hills Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, October 31st. Compass Point cut shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 price objective for the company. in a research note on Tuesday, January 8th. Finally, ValuEngine cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 19th.
NYSE:BHLB traded down $0.06 during trading hours on Tuesday, hitting $28.70. 161,673 shares of the company were exchanged, compared to its average volume of 255,674. The company has a market cap of $1.30 billion, a PE ratio of 12.53 and a beta of 1.16. Berkshire Hills Bancorp has a 52-week low of $25.77 and a 52-week high of $44.25. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.
Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Wednesday, October 17th. The savings and loans company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $118.62 million for the quarter, compared to the consensus estimate of $120.17 million. Berkshire Hills Bancorp had a net margin of 15.64% and a return on equity of 8.33%. As a group, analysts expect that Berkshire Hills Bancorp will post 2.75 EPS for the current fiscal year.
In other news, insider Richard M. Marotta bought 1,860 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The stock was purchased at an average cost of $26.97 per share, for a total transaction of $50,164.20. Following the purchase, the insider now directly owns 37,865 shares in the company, valued at approximately $1,021,219.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Wm Gordon Prescott bought 1,235 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The stock was purchased at an average price of $28.43 per share, with a total value of $35,111.05. Following the completion of the purchase, the executive vice president now owns 4,785 shares in the company, valued at $136,037.55. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 8,475 shares of company stock valued at $238,183. Company insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in Berkshire Hills Bancorp during the fourth quarter worth $75,000. Laurion Capital Management LP acquired a new position in Berkshire Hills Bancorp during the third quarter worth $204,000. Cubist Systematic Strategies LLC acquired a new position in Berkshire Hills Bancorp during the second quarter worth $264,000. Citadel Advisors LLC acquired a new position in Berkshire Hills Bancorp during the second quarter worth $354,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Berkshire Hills Bancorp by 24.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,651 shares of the savings and loans company’s stock worth $393,000 after acquiring an additional 1,868 shares during the period. Hedge funds and other institutional investors own 74.71% 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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