Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Given Average Rating of “Hold” by Analysts

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have received an average recommendation of “Hold” from the four ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have covered the stock in the last year is $25.00.

Separately, StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, June 10th.

Berkshire Hills Bancorp Stock Performance

Shares of Berkshire Hills Bancorp stock opened at $22.80 on Monday. The firm has a fifty day moving average of $22.09 and a two-hundred day moving average of $22.66. The stock has a market capitalization of $987.08 million, a price-to-earnings ratio of 45.60 and a beta of 0.89. Berkshire Hills Bancorp has a 52 week low of $18.31 and a 52 week high of $25.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, equities research analysts predict that Berkshire Hills Bancorp will post 2.06 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, June 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in BHLB. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Berkshire Hills Bancorp in the 1st quarter valued at $146,000. ProShare Advisors LLC boosted its stake in Berkshire Hills Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after purchasing an additional 601 shares during the period. Victory Capital Management Inc. acquired a new position in Berkshire Hills Bancorp in the 4th quarter worth $219,000. Teton Advisors Inc. acquired a new position in Berkshire Hills Bancorp in the 4th quarter worth $240,000. Finally, J.W. Cole Advisors Inc. acquired a new position in Berkshire Hills Bancorp in the 4th quarter worth $258,000. Institutional investors and hedge funds 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.