Berkshire Hills Bancorp, Inc. (NYSE:BHLB) received an average rating of “Hold” from the seven analysts who currently cover the stock, MarketBeat Ratings reports. One equity research analyst gave the stock a sell rating, three gave the company a hold rating and two gave the company a buy rating. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $29.00.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, January 24. Royal Bank of Canada raised its target price on Berkshire Hills Bancorp from $30.00 to $32.00 and gave the company an “industry performance” rating in a Friday, October 22 research note. Finally, TheStreet upgraded Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a Tuesday, November 2 research note.
BHLB opened at $30.54 on Friday. Berkshire Hills Bancorp has a 1-year low of $18.77 and a 1-year high of $31.78. The company has a debt ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day simple moving average is $29.29 and its 200-day simple moving average is $27.68. The company has a market capitalization of $1.49 billion, a price-earnings ratio of 12.62 and a beta of 1.09.
Berkshire Hills Bancorp (NYSE:BHLB) last released quarterly earnings data on Thursday, January 20. The savings and loan company reported earnings per share of $0.42 for the quarter, meeting the consensus estimate of $0.42. The company posted revenue of $90.72 million in the quarter, compared to $91.00 million expected by analysts. Berkshire Hills Bancorp had a return on equity of 7.13% and a net margin of 25.12%. In the same quarter last year, the company posted EPS of $0.28. As a group, sell-side analysts expect Berkshire Hills Bancorp to post EPS of 1.78 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 24. Shareholders of record on Thursday, February 10 will receive a dividend of $0.12. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 1.57%. The ex-date of this dividend is Wednesday, February 9. Berkshire Hills Bancorp’s payout ratio is 19.83%.
Separately, CEO Nitin J. Mhatre acquired 2,700 shares of the company in a transaction that took place on Tuesday, January 25. The stock was purchased at an average price of $29.48 per share, with a total value of $79,596.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Jeffrey W. Kip acquired 10,000 shares of the company in a transaction that took place on Monday, January 31. The shares were purchased at an average cost of $29.25 per share, with a total value of $292,500.00. Disclosure of this purchase can be found here. 0.90% of the shares are currently held by insiders of the company.
A number of large investors have recently increased or reduced their stake in BHLB. Vanguard Group Inc. increased its position in Berkshire Hills Bancorp shares by 3.2% in the second quarter. Vanguard Group Inc. now owns 5,568,738 shares of the savings and loan company valued at $152,639,000 after acquiring an additional 171,770 shares in the last quarter. State Street Corp increased its position in Berkshire Hills Bancorp shares by 6.6% in the second quarter. State Street Corp now owns 2,326,674 shares of the savings and loan company valued at $64,052,000 after acquiring an additional 144,363 shares last quarter. Alliancebernstein LP raised its position in Berkshire Hills Bancorp shares by 541.1% in the third quarter. Alliancebernstein LP now owns 1,732,361 shares of the savings and loan company valued at $46,739,000 after acquiring an additional 1,462,129 shares last quarter. William Blair Investment Management LLC increased its position in Berkshire Hills Bancorp shares by 63,153.5% in the third quarter. William Blair Investment Management LLC now owns 1,541,487 shares of the savings and loan company valued at $41,589,000 after acquiring 1,539,050 additional shares in the last quarter. Finally, Invesco Ltd. raised its position in Berkshire Hills Bancorp shares by 3.4% in the third quarter. Invesco Ltd. now owns 948,474 shares of the savings and loan company worth $25,590,000 after purchasing an additional 31,199 shares last quarter. 78.39% of the shares are held by institutional investors and hedge funds.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as a banking holding company for Berkshire Bank and Berkshire Insurance Group, Inc. The company offers deposit, lending, insurance and wealth management products to retail and business customers in its markets . It aims to expand and deepen market share and share of wallet through organic growth and acquisition strategies.
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