Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.38.
Several equities research analysts have recently weighed in on BHLB shares. Piper Jaffray Companies reiterated a “buy” rating and set a $39.50 target price on shares of Berkshire Hills Bancorp in a research note on Sunday, October 22nd. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, September 11th. Jefferies Group reiterated a “hold” rating and set a $38.00 target price on shares of Berkshire Hills Bancorp in a research note on Friday, September 15th. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Finally, FIG Partners restated an “outperform” rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th.
Shares of Berkshire Hills Bancorp (NYSE:BHLB) opened at $37.85 on Monday. Berkshire Hills Bancorp has a 12 month low of $32.85 and a 12 month high of $40.00. The firm has a market cap of $1,713.37, a PE ratio of 16.60 and a beta of 0.68. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, October 19th. The savings and loans company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. The business had revenue of $100.83 million during the quarter, compared to the consensus estimate of $107.60 million. research analysts expect that Berkshire Hills Bancorp will post 2.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.84 dividend on an annualized basis and a yield of 2.22%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 45.16%.
In related news, insider Michael D. Carroll sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $38.50, for a total transaction of $77,000.00. Following the sale, the insider now owns 7,255 shares in the company, valued at $279,317.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Williar Dunlaevy sold 7,455 shares of Berkshire Hills Bancorp stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $39.30, for a total transaction of $292,981.50. Following the completion of the transaction, the director now owns 67,747 shares in the company, valued at approximately $2,662,457.10. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS Asset Management Americas Inc. increased its stake in Berkshire Hills Bancorp by 47.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,661 shares of the savings and loans company’s stock worth $656,000 after buying an additional 6,034 shares during the period. Stieven Capital Advisors L.P. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth about $5,080,000. Eagle Boston Investment Management Inc. increased its position in shares of Berkshire Hills Bancorp by 1.7% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 268,482 shares of the savings and loans company’s stock worth $10,618,000 after purchasing an additional 4,408 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth about $288,000. Finally, Eagle Asset Management Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth about $15,179,000. Institutional investors own 67.29% of the company’s stock.
About Berkshire Hills Bancorp
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.
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