Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives $25.00 Consensus PT from Analysts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been assigned a consensus recommendation of “Hold” from the four research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $25.00.

A number of research firms recently issued reports on BHLB. Piper Sandler raised Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Wednesday, January 10th. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods upped their price objective on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. StockNews.com lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 target price on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th.

Berkshire Hills Bancorp Stock Up 0.0 %

NYSE BHLB opened at $22.52 on Friday. Berkshire Hills Bancorp has a 1-year low of $18.31 and a 1-year high of $25.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $21.87 and its two-hundred day moving average is $22.38. The company has a market capitalization of $978.72 million, a price-to-earnings ratio of 45.04 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $169.32 million during the quarter, compared to analyst estimates of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same period in the prior year, the company posted $0.63 earnings per share. Equities analysts forecast that Berkshire Hills Bancorp will post 2.06 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were given a $0.18 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.20%. Berkshire Hills Bancorp’s dividend payout ratio is presently 144.00%.

Insider Buying and Selling at Berkshire Hills Bancorp

In related news, Director Michael Zaitzeff sold 20,718 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $22.73, for a total value of $470,920.14. Following the sale, the director now directly owns 156,209 shares of the company’s stock, valued at approximately $3,550,630.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Baye Adofo-Wilson sold 10,074 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Zaitzeff sold 20,718 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $22.73, for a total value of $470,920.14. Following the sale, the director now owns 156,209 shares in the company, valued at approximately $3,550,630.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,190 shares of company stock valued at $3,000,611. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in shares of Berkshire Hills Bancorp by 12.6% in the 1st quarter. Sei Investments Co. now owns 97,420 shares of the savings and loans company’s stock valued at $2,233,000 after purchasing an additional 10,903 shares during the period. Empowered Funds LLC grew its holdings in Berkshire Hills Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 121,492 shares of the savings and loans company’s stock valued at $2,785,000 after buying an additional 9,100 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Berkshire Hills Bancorp in the first quarter valued at about $293,000. LSV Asset Management increased its position in Berkshire Hills Bancorp by 116.2% during the first quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock worth $15,606,000 after acquiring an additional 365,952 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Berkshire Hills Bancorp by 77.5% in the 1st quarter. BNP Paribas Financial Markets now owns 21,698 shares of the savings and loans company’s stock worth $497,000 after purchasing an additional 9,472 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Company Profile

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.