Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has received an average rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.80.
BHLB has been the topic of a number of research analyst reports. FIG Partners restated a “market-perform” rating on shares of Berkshire Hills Bancorp in a report on Wednesday, May 1st. Sandler O’Neill lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a report on Tuesday, July 2nd. TheStreet upgraded shares of WillScot from a “d-” rating to a “c-” rating in a report on Wednesday, May 8th. DA Davidson initiated coverage on shares of Western New England Bancorp in a report on Thursday. They set a “neutral” rating and a $10.00 price objective on the stock. Finally, Piper Jaffray Companies set a $360.00 price objective on shares of Ulta Beauty and gave the stock a “buy” rating in a report on Friday, May 31st.
Large investors have recently modified their holdings of the stock. Mason Street Advisors LLC increased its stake in Berkshire Hills Bancorp by 3.7% in the 1st quarter. Mason Street Advisors LLC now owns 13,015 shares of the savings and loans company’s stock valued at $355,000 after buying an additional 462 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Berkshire Hills Bancorp by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,951 shares of the savings and loans company’s stock valued at $1,131,000 after buying an additional 540 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Berkshire Hills Bancorp by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,181 shares of the savings and loans company’s stock valued at $760,000 after buying an additional 619 shares during the last quarter. New York State Teachers Retirement System increased its stake in Berkshire Hills Bancorp by 4.4% in the 1st quarter. New York State Teachers Retirement System now owns 16,077 shares of the savings and loans company’s stock valued at $438,000 after buying an additional 671 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. increased its stake in Berkshire Hills Bancorp by 7.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,315 shares of the savings and loans company’s stock valued at $281,000 after buying an additional 691 shares during the last quarter. Institutional investors and hedge funds own 77.38% of the company’s stock.
BHLB stock traded up $0.77 during midday trading on Tuesday, reaching $31.60. The company’s stock had a trading volume of 274,230 shares, compared to its average volume of 276,424. Berkshire Hills Bancorp has a 52 week low of $25.77 and a 52 week high of $44.25. The stock has a market capitalization of $1.44 billion, a PE ratio of 11.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day moving average price is $30.39.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Monday, April 29th. The savings and loans company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The business had revenue of $107.18 million during the quarter, compared to the consensus estimate of $114.40 million. Berkshire Hills Bancorp had a net margin of 17.74% and a return on equity of 8.19%. Analysts predict that Berkshire Hills Bancorp will post 2.61 earnings per share for the current year.
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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