Berkshire Hills Bancorp, Inc. (BHLB) Trading Down 2.5%
Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB)’s share price fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $27.35 and last traded at $27.45, with a volume of 58,104 shares trading hands. The stock had previously closed at $28.15.
Several research firms recently issued reports on BHLB. Compass Point cut Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $29.00 to $24.00 in a research report on Tuesday. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 17th. Jefferies Group reaffirmed a “hold” rating on shares of Berkshire Hills Bancorp in a research report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $33.00 price target on shares of Berkshire Hills Bancorp in a report on Wednesday, June 29th.
The stock has a market cap of $816.07 million and a PE ratio of 14.16. The firm’s 50-day moving average is $26.95 and its 200-day moving average is $26.82.
Berkshire Hills Bancorp (NASDAQ:BHLB) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Equities analysts predict that Berkshire Hills Bancorp, Inc. will post $2.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Thursday, August 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.99%. The ex-dividend date is Tuesday, August 2nd.
Berkshire Hills Bancorp, Inc (Berkshire) is the 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. Its product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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