Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $31.13.

A number of analysts have weighed in on BHLB shares. Keefe, Bruyette & Woods increased their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a report on Tuesday, December 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th.

Berkshire Hills Bancorp Trading Up 0.6 %

Shares of NYSE:BHLB opened at $26.32 on Friday. Berkshire Hills Bancorp has a 52-week low of $20.50 and a 52-week high of $32.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $1.22 billion, a P/E ratio of 18.27 and a beta of 0.85. The stock’s 50-day moving average is $28.22 and its 200-day moving average is $28.30.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Equities research analysts predict that Berkshire Hills Bancorp will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 50.00%.

Insider Buying and Selling at Berkshire Hills Bancorp

In other news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Berkshire Hills Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company’s stock valued at $76,371,000 after buying an additional 10,579 shares during the last quarter. State Street Corp lifted its position in shares of Berkshire Hills Bancorp by 0.9% during the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after purchasing an additional 18,307 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Berkshire Hills Bancorp by 21.4% in 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 purchasing an additional 293,784 shares in the last quarter. Invesco Ltd. raised its position in Berkshire Hills Bancorp by 20.8% in the 4th quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company’s stock worth $36,719,000 after purchasing an additional 222,162 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Berkshire Hills Bancorp during the 4th quarter worth $29,410,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Company Profile

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.