Berkshire Hills Bancorp, Inc. (NYSE: BHLB) Receives Medium “Holding” Rating from Analysts

Shares of Berkshire Hills Bancorp, Inc. (NYSE: BHLB – Get Rating) received an average recommendation of “Hold” from the seven analysts who currently cover the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned the company a buy rating. The 12-month average target price among analysts who have rated the stock over the past year is $29.00.

Separately, Zacks Investment Research downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a Monday, Jan. 24 research note.

Separately, CEO Nitin J. Mhatre purchased 2,700 shares in a trade dated Tuesday, January 25. The shares were purchased at an average price of $29.48 per share, for a total transaction of $79,596.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Jeffrey W. Kip purchased 10,000 shares of Berkshire Hills Bancorp in a transaction that took place on Monday, January 31. The shares were acquired 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 held by insiders.

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A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Norges Bank acquired a new position in Berkshire Hills Bancorp in Q4 for a value of approximately $13,618,000. Barclays PLC increased its stake in Berkshire Hills Bancorp shares by 21.5% during the fourth quarter. Barclays PLC now owns 116,516 shares in the savings and loan company valued at $3,313,000 after acquiring a further 20,655 shares in the last quarter. Wells Fargo & Company MN increased its holdings of Berkshire Hills Bancorp stock by 1,300.7% during the fourth quarter. Wells Fargo & Company MN now owns 64,640 shares of the savings and loan company valued at $1,837,000 after acquiring 60,025 additional shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Berkshire Hills Bancorp during the fourth quarter valued at approximately $988,000. Finally, Goldman Sachs Group Inc. increased its stake in Berkshire Hills Bancorp shares by 626.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,077,583 shares of the savings and loan company valued at $30,635,000 after acquiring 929,200 additional shares in the last quarter. 78.17% of the shares are held by institutional investors.

Berkshire Hills Bancorp shares opened at $29.89 on Thursday. The company has a debt ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.83. The company’s 50-day simple moving average is $30.18 and its two-hundred-day simple moving average is $28.09. The company has a market capitalization of $1.45 billion, a PE ratio of 12.35 and a beta of 1.06. Berkshire Hills Bancorp has a fifty-two week low of $21.00 and a fifty-two week high of $31.78.

Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last released its quarterly results on Thursday, January 20. The savings and loan company reported earnings per share of $0.42 for the quarter, matching Thomson Reuters consensus estimate of $0.42. The company posted revenue of $90.72 million for the quarter, versus a consensus estimate of $91.00 million. Berkshire Hills Bancorp had a return on equity of 7.13% and a net margin of 25.12%. In the same quarter of the previous year, the company achieved EPS of $0.28. As a group, analysts predict Berkshire Hills Bancorp will post EPS of 1.78 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 24. Shareholders of record on Thursday, February 10 received a dividend of $0.12. The ex-dividend date was Wednesday, February 9. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 1.61%. Berkshire Hills Bancorp’s payout ratio is 19.83%.

Berkshire Hills Bancorp Company Profile (Get an evaluation)

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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