Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “
Separately, Compass Point upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.50.
Shares of Berkshire Hills Bancorp (NASDAQ:BHLB) traded down 0.43% during trading on Monday, hitting $34.85. The stock had a trading volume of 129,596 shares. The firm has a 50 day moving average price of $35.33 and a 200 day moving average price of $32.60. Berkshire Hills Bancorp has a 12-month low of $24.80 and a 12-month high of $37.45. The firm has a market cap of $1.23 billion and a P/E ratio of 18.54.
Berkshire Hills Bancorp (NASDAQ:BHLB) last issued its quarterly earnings data on Monday, January 30th. The company reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. On average, equities analysts expect that Berkshire Hills Bancorp will post $2.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Investors of record on Thursday, February 16th were paid a $0.21 dividend. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.41%.
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A number of institutional investors have recently modified their holdings of BHLB. Putnam Investments LLC raised its position in shares of Berkshire Hills Bancorp by 84.0% in the fourth quarter. Putnam Investments LLC now owns 129,900 shares of the company’s stock worth $4,787,000 after buying an additional 59,300 shares during the period. Round Hill Asset Management purchased a new position in shares of Berkshire Hills Bancorp during the fourth quarter worth about $238,000. AQR Capital Management LLC raised its position in shares of Berkshire Hills Bancorp by 66.0% in the fourth quarter. AQR Capital Management LLC now owns 54,749 shares of the company’s stock worth $2,017,000 after buying an additional 21,759 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Berkshire Hills Bancorp by 1.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,135 shares of the company’s stock worth $816,000 after buying an additional 329 shares during the period. Finally, Tudor Investment Corp Et Al raised its position in shares of Berkshire Hills Bancorp by 13.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 24,909 shares of the company’s stock worth $918,000 after buying an additional 2,876 shares during the period.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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