Berkshire Hills Bancorp, Inc. (NYSE:BHLB)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group LLC in a report released on Wednesday. They presently have a $40.00 price objective on the savings and loans company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 2.17% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, September 11th. BidaskClub raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $41.00 target price on shares of Berkshire Hills Bancorp in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $38.92.
Berkshire Hills Bancorp (BHLB) traded up 0.13% during trading on Wednesday, reaching $39.15. 211,752 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $35.60 and a 200-day moving average of $35.78. Berkshire Hills Bancorp has a 12 month low of $27.25 and a 12 month high of $39.75. The stock has a market cap of $1.56 billion, a PE ratio of 21.62 and a beta of 0.67.
Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. The firm had revenue of $102.34 million for the quarter, compared to analysts’ expectations of $102.75 million. On average, equities research analysts anticipate that Berkshire Hills Bancorp will post $2.26 earnings per share for the current fiscal year.
In other news, Director Richard L. Murphy bought 1,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $34.25 per share, with a total value of $34,250.00. Following the completion of the transaction, the director now owns 9,668 shares of the company’s stock, valued at approximately $331,129. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael P. Daly sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $33.78, for a total value of $844,500.00. Following the completion of the transaction, the insider now directly owns 103,670 shares in the company, valued at $3,501,972.60. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.
Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. purchased a new position in Berkshire Hills Bancorp in the first quarter worth about $101,000. New York State Teachers Retirement System boosted its position in Berkshire Hills Bancorp by 7.4% in the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after purchasing an additional 200 shares during the last quarter. SG Americas Securities LLC purchased a new position in Berkshire Hills Bancorp in the first quarter worth about $109,000. Quantbot Technologies LP purchased a new position in Berkshire Hills Bancorp in the second quarter worth about $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Berkshire Hills Bancorp by 263.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 2,500 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors and hedge funds.
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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