Berkshire Hills Bancorp (NYSE:BHLB – Get a Rating) was upgraded by StockNews.com analysts from a “sell” rating to a “hold” rating in a research report released Wednesday to clients and investors.
Other equity research analysts have also recently published research reports on the stock. Janney Montgomery Scott moved Berkshire Hills Bancorp shares from a “neutral” rating to a “buy” rating and set a target price of $31.00 for the company in a Thursday, July 21 research report. Hovde Group began covering Berkshire Hills Bancorp shares in a research report on Tuesday, September 13. They issued an “outperform” rating and a target price of $33.00 for the company. Finally, Piper Sandler raised her price target on Berkshire Hills Bancorp stock to $29.00 in a Friday, July 22 research report. One investment analyst gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat, Berkshire Hills Bancorp has an average rating of “Hold” and a consensus price target of $29.60.
Berkshire Hills Bancorp trades up 1.0%
Berkshire Hills Bancorp shares opened at $29.68 on Wednesday. The company has a 50-day moving average price of $28.24 and a 200-day moving average price of $27.21. Berkshire Hills Bancorp has a 52-week low of $23.62 and a 52-week high of $31.78. The company has a debt ratio of 0.20, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1.36 billion, a price-earnings ratio of 11.20 and a beta of 1.04.
Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last released quarterly earnings data on Wednesday, July 20. The savings and loan company reported EPS of $0.51 for the quarter, beating analyst consensus estimates of $0.46 by $0.05. Berkshire Hills Bancorp had a net margin of 28.30% and a return on equity of 8.08%. The company posted revenue of $97.71 million in the quarter, versus analyst estimates of $96.78 million. In the same quarter last year, the company posted EPS of $0.44. Research analysts expect Berkshire Hills Bancorp to post EPS of 2.08 for the current year.
Institutional entries and exits
A number of hedge funds and other institutional investors have recently changed their holdings in BHLB. Goldman Sachs Group Inc. increased its stake in Berkshire Hills Bancorp shares by 626.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,077,583 shares of the savings and loan company valued at $30,635,000 after buying 929,200 additional shares last quarter. Thrivent Financial for Lutherans increased its holdings of Berkshire Hills Bancorp stock by 1,250.4% in Q2. Thrivent Financial for Lutherans now owns 535,017 shares of the savings and loan company valued at $13,253,000 after buying an additional 495,398 shares last quarter. Verition Fund Management LLC bought a new position in Berkshire Hills Bancorp in Q2 worth $5,610,000. Invesco Ltd. increased its holdings in Berkshire Hills Bancorp by 22.0% in the fourth quarter. Invesco Ltd. now owns 1,157,369 shares of the savings and loan company worth $32,904,000 after acquiring an additional 208,895 shares during the period. Finally, Alliancebernstein LP increased its stake in Berkshire Hills Bancorp by 6.6% in the 4th quarter. Alliancebernstein LP now owns 1,847,465 shares of the savings and loan company worth $52,523,000 after acquiring an additional 115,104 shares during the period. Institutional investors hold 80.61% of the company’s shares.
About Berkshire Hills Bancorp
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Berkshire Hills Bancorp, Inc operates as a banking holding company for Berkshire Bank which provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, term deposit certificates and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer and residential loans.
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