Berkshire Hills Bancorp, Inc. (BHLB) Stock Rating Upgraded by BidaskClub
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.
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.
Receive News & Ratings for Berkshire Hills Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.