BidaskClub upgraded shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) from a strong sell rating to a sell rating in a report published on Wednesday.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a buy rating to a hold rating in a research note on Tuesday. Piper Jaffray Companies raised shares of Berkshire Hills Bancorp from a neutral rating to an overweight rating and set a $39.50 price target for the company in a research note on Thursday, September 7th. Finally, FIG Partners raised shares of Berkshire Hills Bancorp from a market perform rating to an outperform rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $37.30.
Shares of Berkshire Hills Bancorp (BHLB) opened at 34.40 on Wednesday. The firm has a 50-day moving average of $34.42 and a 200 day moving average of $35.45. The company has a market cap of $1.37 billion, a P/E ratio of 19.00 and a beta of 0.65. Berkshire Hills Bancorp has a 52 week low of $26.80 and a 52 week high of $38.65.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The company had revenue of $102.34 million during the quarter, compared to analysts’ expectations of $102.75 million. Equities analysts expect that Berkshire Hills Bancorp will post $2.29 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.44%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 46.15%.
In other news, EVP Richard M. Marotta sold 9,500 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the transaction, the executive vice president now directly owns 28,523 shares in the company, valued at approximately $950,386.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Murphy acquired 1,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $34.25 per share, for a total transaction of $34,250.00. Following the completion of the acquisition, the director now owns 9,668 shares in the company, valued at approximately $331,129. The disclosure for this purchase can be found here. Corporate insiders own 2.82% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Berkshire Hills Bancorp in the 1st quarter worth approximately $101,000. New York State Teachers Retirement System lifted its holdings in shares of Berkshire Hills Bancorp by 7.4% in the 1st quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after acquiring an additional 200 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Berkshire Hills Bancorp in the 1st quarter worth approximately $109,000. Quantbot Technologies LP acquired a new position in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Berkshire Hills Bancorp by 263.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock worth $121,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 74.11% of the company’s stock.
About Berkshire Hills Bancorp
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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