Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Berkshire Hills Bancorp (NYSE:BHLB) Stock

Berkshire Hills Bancorp (NYSE:BHLB) had its price objective lifted by analysts at Keefe, Bruyette & Woods from $29.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 5.54% from the company’s current price.

Berkshire Hills Bancorp Stock Performance

Berkshire Hills Bancorp stock remained flat at $30.32 during midday trading on Wednesday. The company had a trading volume of 27,641 shares, compared to its average volume of 254,700. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 31.95 and a beta of 0.88. The business has a 50-day simple moving average of $28.50 and a 200-day simple moving average of $26.02. Berkshire Hills Bancorp has a 12 month low of $20.50 and a 12 month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Equities research analysts anticipate that Berkshire Hills Bancorp will post 2.16 earnings per share for the current year.

Institutional Trading of Berkshire Hills Bancorp

A number of large investors have recently made changes to their positions in BHLB. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $34,000. nVerses Capital LLC boosted its holdings in Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after purchasing an additional 1,400 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Berkshire Hills Bancorp during the second quarter worth approximately $104,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Berkshire Hills Bancorp by 58.5% during 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. Finally, Joel Isaacson & Co. LLC purchased a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $211,000. 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.