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

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.13.

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

Insider Buying and Selling at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Several hedge funds have recently added to or reduced their stakes in BHLB. PNC Financial Services Group Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 3.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock valued at $376,000 after acquiring an additional 382 shares during the period. FMR LLC lifted its holdings in Berkshire Hills Bancorp by 3.3% in the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company’s stock valued at $415,000 after acquiring an additional 496 shares during the period. Bank of Montreal Can lifted its holdings in Berkshire Hills Bancorp by 7.2% in the fourth quarter. Bank of Montreal Can now owns 10,292 shares of the savings and loans company’s stock valued at $293,000 after acquiring an additional 690 shares during the period. Quarry LP lifted its holdings in Berkshire Hills Bancorp by 142.7% in the fourth quarter. Quarry LP now owns 1,291 shares of the savings and loans company’s stock valued at $37,000 after acquiring an additional 759 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after acquiring an additional 821 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp Stock Down 1.9 %

Shares of BHLB opened at $28.07 on Monday. The stock has a market capitalization of $1.21 billion, a PE ratio of 19.49 and a beta of 0.88. Berkshire Hills Bancorp has a 1 year low of $20.50 and a 1 year high of $32.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50-day simple moving average is $28.72 and its 200-day simple moving average is $28.19.

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 (EPS) for the quarter, topping 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%. Analysts forecast that Berkshire Hills Bancorp will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be paid a $0.18 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.72 annualized dividend and a yield of 2.57%. Berkshire Hills Bancorp’s dividend payout ratio is currently 50.00%.

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.