Berkshire Hills Bancorp (NYSE:BHLB) Price Target Raised to $32.00

Berkshire Hills Bancorp (NYSE:BHLB) had its target price lifted by Keefe, Bruyette & Woods from $29.00 to $32.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the savings and loans company’s stock.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE:BHLB opened at $30.65 on Wednesday. The business’s fifty day moving average price is $28.58 and its two-hundred day moving average price is $26.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.26 and a beta of 0.88. Berkshire Hills Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The company had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. As a group, analysts predict that Berkshire Hills Bancorp will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Thursday, November 14th. Berkshire Hills Bancorp’s payout ratio is presently 75.79%.

Institutional Trading of Berkshire Hills Bancorp

Large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in Berkshire Hills Bancorp by 3.3% in the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company’s stock valued at $415,000 after acquiring an additional 496 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Berkshire Hills Bancorp by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock valued at $520,000 after acquiring an additional 1,071 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Berkshire Hills Bancorp in the third quarter valued at about $34,000. nVerses Capital LLC boosted its holdings in Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Berkshire Hills Bancorp by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company’s stock valued at $361,000 after acquiring an additional 1,565 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

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.