Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Given Average Recommendation of “Hold” by Brokerages

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Berkshire Hills Bancorp, Inc. (NYSE:BHLBGet Rating) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $29.20.

BHLB has been the topic of several research reports. Compass Point lowered Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $29.00 to $23.00 in a research note on Thursday, April 21st. TheStreet lowered Berkshire Hills Bancorp from a “b-” rating to a “c” rating in a research note on Thursday, May 12th. StockNews.com initiated coverage on Berkshire Hills Bancorp in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, April 22nd.

In other news, Director Michael Zaitzeff sold 1,274,279 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $24.70, for a total value of $31,474,691.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. UMB Bank N A MO purchased a new position in Berkshire Hills Bancorp during the 4th quarter worth approximately $30,000. Lazard Asset Management LLC purchased a new position in shares of Berkshire Hills Bancorp in the 1st quarter valued at approximately $35,000. Advisor Group Holdings Inc. grew its stake in shares of Berkshire Hills Bancorp by 100.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the savings and loans company’s stock valued at $42,000 after purchasing an additional 786 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Berkshire Hills Bancorp by 112.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,533 shares of the savings and loans company’s stock valued at $44,000 after purchasing an additional 811 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Berkshire Hills Bancorp in the 1st quarter valued at approximately $87,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.

Shares of Berkshire Hills Bancorp stock opened at $25.55 on Tuesday. Berkshire Hills Bancorp has a 52 week low of $23.15 and a 52 week high of $31.78. The business’s fifty day simple moving average is $27.24 and its 200-day simple moving average is $28.53. The firm has a market cap of $1.22 billion, a PE ratio of 9.90 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Berkshire Hills Bancorp (NYSE:BHLBGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The savings and loans company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Berkshire Hills Bancorp had a return on equity of 7.67% and a net margin of 27.75%. During the same period last year, the firm posted $0.32 EPS. As a group, equities analysts expect that Berkshire Hills Bancorp will post 1.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.88%. Berkshire Hills Bancorp’s payout ratio is currently 18.60%.

Berkshire Hills Bancorp Company Profile (Get Rating)

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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