FIG Partners Upgrades Berkshire Hills Bancorp (BHLB) to “Outperform”
Berkshire Hills Bancorp (NYSE:BHLB) was upgraded by stock analysts at FIG Partners from a “market-perform” rating to an “outperform” rating in a research note issued to investors on Thursday. FIG Partners also issued estimates for Berkshire Hills Bancorp’s Q1 2019 earnings at $0.73 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $3.07 EPS.
Several other brokerages have also recently issued reports on BHLB. Keefe, Bruyette & Woods cut Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price objective on the stock. in a report on Sunday, July 22nd. Sandler O’Neill reaffirmed a “buy” rating and set a $47.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, July 20th. Cowen raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Thursday, July 19th. Compass Point raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating and set a $40.00 price objective on the stock in a report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Berkshire Hills Bancorp currently has an average rating of “Hold” and an average target price of $41.30.
NYSE BHLB opened at $35.14 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.89 and a current ratio of 0.91. Berkshire Hills Bancorp has a 12 month low of $35.03 and a 12 month high of $44.25. The company has a market capitalization of $1.73 billion, a P/E ratio of 15.34 and a beta of 0.74.
Large investors have recently added to or reduced their stakes in the stock. Mount Yale Investment Advisors LLC purchased a new stake in Berkshire Hills Bancorp during the 1st quarter valued at $115,000. Amalgamated Bank purchased a new stake in Berkshire Hills Bancorp during the 1st quarter valued at $201,000. Crossmark Global Holdings Inc. purchased a new stake in Berkshire Hills Bancorp during the 2nd quarter valued at $203,000. Intrust Bank NA purchased a new stake in Berkshire Hills Bancorp during the 2nd quarter valued at $212,000. Finally, Lcnb Corp purchased a new stake in Berkshire Hills Bancorp during the 2nd quarter valued at $212,000. Institutional investors own 76.30% of the company’s stock.
Berkshire Hills Bancorp Company Profile
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.
Recommended Story: Do stock splits help investors?
Receive News & Ratings for Berkshire Hills Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.