Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives $31.13 Consensus Target Price from Analysts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.13.

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research report on Tuesday, December 24th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Finally, Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th.

Berkshire Hills Bancorp Price Performance

NYSE BHLB opened at $26.26 on Friday. The company has a 50-day moving average price of $28.16 and a 200-day moving average price of $28.27. Berkshire Hills Bancorp has a 52 week low of $20.50 and a 52 week high of $32.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.22 billion, a P/E ratio of 18.23 and a beta of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Equities research analysts anticipate that Berkshire Hills Bancorp will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is 50.00%.

Insider Buying and Selling

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth approximately $358,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Berkshire Hills Bancorp during the fourth quarter worth approximately $1,279,000. Voloridge Investment Management LLC acquired a new stake in shares of Berkshire Hills Bancorp during the fourth quarter worth $1,841,000. Systematic Financial Management LP grew its position in Berkshire Hills Bancorp by 5.0% in the 4th quarter. Systematic Financial Management LP now owns 999,861 shares of the savings and loans company’s stock valued at $28,426,000 after buying an additional 47,234 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Berkshire Hills Bancorp by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 12,923 shares of the savings and loans company’s stock valued at $367,000 after buying an additional 3,980 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.