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

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.80.

A number of equities analysts have recently weighed in on BHLB shares. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research note on Monday, July 22nd. Finally, Hovde Group lifted their price objective on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th.

Berkshire Hills Bancorp Trading Down 0.8 %

NYSE:BHLB opened at $25.82 on Friday. The firm has a fifty day simple moving average of $26.02 and a two-hundred day simple moving average of $23.40. Berkshire Hills Bancorp has a 12 month low of $18.31 and a 12 month high of $28.51. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 51.64 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.28.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, July 18th. The savings and loans company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $108.46 million. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. During the same period in the previous year, the company posted $0.55 EPS. Analysts expect that Berkshire Hills Bancorp will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Berkshire Hills Bancorp in the second quarter worth $104,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Berkshire Hills Bancorp by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after buying an additional 2,169 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Berkshire Hills Bancorp during the first quarter valued at about $146,000. ProShare Advisors LLC increased its holdings in Berkshire Hills Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after buying an additional 601 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp in the fourth quarter worth about $219,000. 83.07% of the stock is owned by institutional investors.

About Berkshire Hills Bancorp

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.