Berkshire Hills Bancorp (NYSE:BHLB) Raised to Strong-Buy at Seaport Res Ptn

Berkshire Hills Bancorp (NYSE:BHLB) was upgraded by stock analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.56 EPS and FY2025 earnings at $2.48 EPS.

BHLB has been the subject of several other reports. Keefe, Bruyette & Woods boosted their price objective on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada lowered their price target on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.20.

Berkshire Hills Bancorp Stock Performance

Berkshire Hills Bancorp stock opened at $29.13 on Monday. Berkshire Hills Bancorp has a 52 week low of $20.50 and a 52 week high of $32.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.25 billion, a P/E ratio of 30.66 and a beta of 0.88. The stock has a 50 day moving average of $29.23 and a 200-day moving average of $26.52.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, analysts expect that Berkshire Hills Bancorp will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock valued at $44,815,000 after acquiring an additional 293,784 shares during the period. Renaissance Technologies LLC increased its stake in shares of Berkshire Hills Bancorp by 60.4% in the second quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock valued at $9,636,000 after purchasing an additional 159,200 shares during the period. Systematic Financial Management LP increased its stake in shares of Berkshire Hills Bancorp by 13.7% in the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after purchasing an additional 114,433 shares during the period. Millennium Management LLC raised its holdings in shares of Berkshire Hills Bancorp by 126.0% during the second quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock valued at $4,186,000 after buying an additional 102,384 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Berkshire Hills Bancorp by 28.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company’s stock worth $9,175,000 after buying an additional 75,476 shares during the period. 83.07% of the stock is currently owned by institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.