Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives Consensus Recommendation of “Hold” from Analysts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has received a consensus rating of “Hold” from the four ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $25.00.

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

Insider Transactions at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total transaction of $223,542.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Baye Adofo-Wilson sold 10,074 shares of the company’s stock in a transaction on 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 SEC, which can be accessed through this hyperlink. Also, Director Michael Zaitzeff sold 29,062 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $23.09, for a total value of $671,041.58. Following the transaction, the director now directly owns 127,147 shares of the company’s stock, valued at approximately $2,935,824.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,850 shares of company stock worth $3,437,063. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Several hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC purchased a new position in shares of Berkshire Hills Bancorp during the third quarter valued at approximately $202,000. Victory Capital Management Inc. purchased a new position in Berkshire Hills Bancorp during the fourth quarter valued at $219,000. Teton Advisors Inc. bought a new stake in Berkshire Hills Bancorp in the fourth quarter worth $240,000. Berkshire Bank boosted its holdings in Berkshire Hills Bancorp by 15.5% in the third quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock worth $252,000 after acquiring an additional 1,691 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter worth $258,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Price Performance

BHLB opened at $22.36 on Friday. The firm has a 50-day moving average price of $21.85 and a 200-day moving average price of $22.32. Berkshire Hills Bancorp has a twelve month low of $18.07 and a twelve month high of $25.79. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $971.77 million, a price-to-earnings ratio of 44.72 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.63 earnings per share. Equities analysts expect that Berkshire Hills Bancorp will post 2.06 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a yield of 3.22%. Berkshire Hills Bancorp’s dividend payout ratio is presently 144.00%.

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.