DA Davidson Begins Coverage on Berkshire Hills Bancorp (NYSE:BHLB)

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DA Davidson started coverage on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $36.00 price objective on the savings and loans company’s stock.

Several other brokerages also recently issued reports on BHLB. Piper Jaffray Companies set a $360.00 target price on shares of Ulta Beauty and gave the stock a buy rating in a research note on Friday, May 31st. Zacks Investment Research upgraded shares of Investar from a hold rating to a buy rating and set a $27.00 target price on the stock in a research note on Tuesday, June 4th. Sandler O’Neill downgraded shares of Berkshire Hills Bancorp from a buy rating to a hold rating and set a $33.00 target price on the stock. in a research note on Tuesday, July 2nd. FIG Partners reiterated a market-perform rating on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 1st. Finally, ValuEngine downgraded shares of China Southern Airlines from a hold rating to a sell rating in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $31.80.

NYSE:BHLB opened at $31.60 on Thursday. Berkshire Hills Bancorp has a one year low of $25.77 and a one year high of $44.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day simple moving average is $30.39. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 11.66 and a beta of 1.04.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Monday, April 29th. The savings and loans company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.02). The business had revenue of $107.18 million for the quarter, compared to the consensus estimate of $114.40 million. Berkshire Hills Bancorp had a return on equity of 8.19% and a net margin of 17.74%. As a group, analysts anticipate that Berkshire Hills Bancorp will post 2.61 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mason Street Advisors LLC raised its holdings in shares of Berkshire Hills Bancorp by 3.7% during the first quarter. Mason Street Advisors LLC now owns 13,015 shares of the savings and loans company’s stock valued at $355,000 after purchasing an additional 462 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Berkshire Hills Bancorp by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 41,951 shares of the savings and loans company’s stock valued at $1,131,000 after purchasing an additional 540 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Berkshire Hills Bancorp by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 28,181 shares of the savings and loans company’s stock valued at $760,000 after purchasing an additional 619 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Berkshire Hills Bancorp by 4.4% during the first quarter. New York State Teachers Retirement System now owns 16,077 shares of the savings and loans company’s stock valued at $438,000 after purchasing an additional 671 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its holdings in shares of Berkshire Hills Bancorp by 7.2% during the first quarter. Piedmont Investment Advisors Inc. now owns 10,315 shares of the savings and loans company’s stock valued at $281,000 after purchasing an additional 691 shares during the last quarter. 77.42% of the stock is owned by hedge funds and other institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a 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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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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