Zacks: Berkshire Hills Bancorp, Inc. (BHLB) Given Average Recommendation of “” by Brokerages

Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB) has been given an average broker rating score of 0.00 () from the four brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and three have given a hold rating to the company.

Brokers have set a 1 year consensus price target of $33.75 for the company and are forecasting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Berkshire Hills Bancorp an industry rank of 71 out of 265 based on the ratings given to its competitors.

BHLB has been the subject of several research reports. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, December 27th. Compass Point upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Tuesday, January 31st.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cornercap Investment Counsel Inc. raised its position in shares of Berkshire Hills Bancorp by 1.2% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 20,725 shares of the company’s stock valued at $764,000 after buying an additional 250 shares during the period. Foundry Partners LLC raised its position in shares of Berkshire Hills Bancorp by 0.3% in the third quarter. Foundry Partners LLC now owns 115,594 shares of the company’s stock valued at $3,203,000 after buying an additional 289 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Berkshire Hills Bancorp by 1.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,135 shares of the company’s stock valued at $816,000 after buying an additional 329 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Berkshire Hills Bancorp by 12.8% in the third quarter. PNC Financial Services Group Inc. now owns 8,955 shares of the company’s stock valued at $248,000 after buying an additional 1,019 shares during the period. Finally, Sit Investment Associates Inc. raised its position in shares of Berkshire Hills Bancorp by 31.2% in the third quarter. Sit Investment Associates Inc. now owns 4,525 shares of the company’s stock valued at $125,000 after buying an additional 1,075 shares during the period.

Shares of Berkshire Hills Bancorp (NASDAQ:BHLB) opened at 34.85 on Tuesday. The stock’s 50 day moving average is $35.33 and its 200-day moving average is $32.60. Berkshire Hills Bancorp has a 12-month low of $24.80 and a 12-month high of $37.45. The firm has a market cap of $1.23 billion and a price-to-earnings ratio of 18.54.

Berkshire Hills Bancorp (NASDAQ:BHLB) last posted its quarterly earnings data on Monday, January 30th. The company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. On average, analysts anticipate that Berkshire Hills Bancorp will post $2.34 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, February 14th. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.20.

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.

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