Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. FIG Partners upgraded shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. Piper Jaffray Companies upgraded shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 price target on the stock in a research report on Thursday, September 7th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $38.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.08.

Berkshire Hills Bancorp (BHLB) opened at 35.65 on Wednesday. The firm has a 50-day moving average of $34.32 and a 200-day moving average of $35.44. Berkshire Hills Bancorp has a one year low of $26.80 and a one year high of $38.65. The company has a market cap of $1.42 billion, a PE ratio of 19.69 and a beta of 0.65.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $102.34 million for the quarter, compared to analysts’ expectations of $102.75 million. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. On average, analysts predict that Berkshire Hills Bancorp will post $2.29 EPS for the current year.

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In related news, Director Richard L. Murphy bought 1,000 shares of Berkshire Hills Bancorp stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of $34.25 per share, for a total transaction of $34,250.00. Following the completion of the transaction, the director now owns 9,668 shares of the company’s stock, valued at $331,129. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Daly sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $33.78, for a total transaction of $844,500.00. Following the transaction, the insider now owns 103,670 shares in the company, valued at $3,501,972.60. The disclosure for this sale can be found here. 2.82% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Berkshire Hills Bancorp during the second quarter worth approximately $941,000. Koch Industries Inc. acquired a new position in shares of Berkshire Hills Bancorp during the second quarter worth approximately $288,000. Verition Fund Management LLC acquired a new position in shares of Berkshire Hills Bancorp during the second quarter worth approximately $467,000. Ameritas Investment Partners Inc. lifted its position in shares of Berkshire Hills Bancorp by 11.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock worth $110,000 after purchasing an additional 318 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in shares of Berkshire Hills Bancorp by 110.8% during the second quarter. Susquehanna International Group LLP now owns 72,059 shares of the savings and loans company’s stock worth $2,533,000 after purchasing an additional 37,879 shares in the last quarter. Institutional investors own 74.09% of the company’s stock.

Berkshire Hills Bancorp Company Profile

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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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