Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.25.
Several research firms have issued reports on BHLB. ValuEngine downgraded Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, March 25th. Piper Jaffray Companies initiated coverage on Berkshire Hills Bancorp in a research report on Friday, May 31st. They issued a “neutral” rating and a $33.00 target price for the company. TheStreet upgraded Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, May 8th. FIG Partners reiterated a “market-perform” rating on shares of Berkshire Hills Bancorp in a research report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th.
Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Berkshire Hills Bancorp by 757.5% during the 1st quarter. Versant Capital Management Inc now owns 1,535 shares of the savings and loans company’s stock worth $41,000 after acquiring an additional 1,356 shares during the period. Ellis Investment Partners LLC bought a new stake in shares of Berkshire Hills Bancorp in the 1st quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Berkshire Hills Bancorp by 23.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,731 shares of the savings and loans company’s stock worth $74,000 after buying an additional 527 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in shares of Berkshire Hills Bancorp in the 1st quarter worth $193,000. Finally, US Bancorp DE raised its stake in shares of Berkshire Hills Bancorp by 178.2% in the 1st quarter. US Bancorp DE now owns 7,931 shares of the savings and loans company’s stock worth $216,000 after buying an additional 5,080 shares in the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.
NYSE BHLB opened at $30.49 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of 11.25 and a beta of 1.04. Berkshire Hills Bancorp has a 1-year low of $25.77 and a 1-year high of $44.25. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23.
Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Monday, April 29th. The savings and loans company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). The firm had revenue of $107.18 million during the quarter, compared to analyst estimates of $114.40 million. Berkshire Hills Bancorp had a net margin of 17.74% and a return on equity of 8.19%. Sell-side analysts expect that Berkshire Hills Bancorp will post 2.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.92 dividend on an annualized basis and a yield of 3.02%. Berkshire Hills Bancorp’s dividend payout ratio is currently 33.95%.
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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