Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $35.07 and last traded at $35.41, with a volume of 7252 shares. The stock had previously closed at $36.24.

A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Keefe, Bruyette & Woods cut Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a report on Sunday, July 22nd. Sandler O’Neill restated a “buy” rating and set a $47.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, July 20th. Compass Point upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating and set a $40.00 target price for the company in a report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, FIG Partners upgraded Berkshire Hills Bancorp from a “market-perform” rating to an “outperform” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.30.

The firm has a market cap of $1.73 billion, a P/E ratio of 15.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.89.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Wednesday, October 17th. The savings and loans company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Berkshire Hills Bancorp had a return on equity of 8.37% and a net margin of 15.64%. The company had revenue of $118.62 million during the quarter, compared to analysts’ expectations of $120.17 million. On average, analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Thursday, November 8th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, November 7th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 38.43%.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Berkshire Hills Bancorp by 104.6% in the 2nd quarter. BlackRock Inc. now owns 5,464,477 shares of the savings and loans company’s stock valued at $221,859,000 after buying an additional 2,793,131 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Berkshire Hills Bancorp by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,668,164 shares of the savings and loans company’s stock valued at $148,928,000 after buying an additional 138,069 shares during the period. LSV Asset Management boosted its stake in shares of Berkshire Hills Bancorp by 0.7% in the 2nd quarter. LSV Asset Management now owns 1,357,837 shares of the savings and loans company’s stock valued at $55,128,000 after buying an additional 9,299 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Berkshire Hills Bancorp by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 774,400 shares of the savings and loans company’s stock valued at $31,441,000 after buying an additional 9,819 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Berkshire Hills Bancorp by 0.6% in the 2nd quarter. Northern Trust Corp now owns 743,788 shares of the savings and loans company’s stock valued at $30,198,000 after buying an additional 4,698 shares during the period. Institutional investors own 76.30% of the company’s stock.

About Berkshire Hills Bancorp (NYSE:BHLB)

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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