Berkshire Hills Bancorp (NYSE:BHLB) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Berkshire Hills Bancorp (NYSE:BHLB) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a sell rating to a hold rating in a report on Tuesday. Compass Point raised shares of Berkshire Hills Bancorp from a sell rating to a neutral rating in a report on Wednesday, July 24th. DA Davidson reissued a buy rating on shares of Berkshire Hills Bancorp in a report on Monday, July 22nd. Finally, Sandler O’Neill downgraded shares of Berkshire Hills Bancorp from a buy rating to a hold rating and set a $33.00 price objective on the stock. in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Berkshire Hills Bancorp has a consensus rating of Hold and a consensus target price of $31.80.

Shares of NYSE:BHLB traded up $0.57 during midday trading on Wednesday, hitting $29.07. The stock had a trading volume of 159,564 shares, compared to its average volume of 260,560. The company has a market capitalization of $1.48 billion, a PE ratio of 10.73 and a beta of 1.09. The stock has a 50 day moving average price of $29.84 and a two-hundred day moving average price of $29.98. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. Berkshire Hills Bancorp has a 1 year low of $25.77 and a 1 year high of $41.49.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The business had revenue of $109.11 million for the quarter, compared to the consensus estimate of $114.10 million. Berkshire Hills Bancorp had a net margin of 16.28% and a return on equity of 7.76%. As a group, equities analysts expect that Berkshire Hills Bancorp will post 2.44 EPS for the current year.

In related news, Director Rheo A. Brouillard sold 9,454 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $32.80, for a total transaction of $310,091.20. Following the sale, the director now owns 21,004 shares of the company’s stock, valued at $688,931.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.76% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BHLB. BlackRock Inc. boosted its holdings in Berkshire Hills Bancorp by 12.7% during the second quarter. BlackRock Inc. now owns 6,780,504 shares of the savings and loans company’s stock worth $212,841,000 after buying an additional 765,178 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 10.6% in the second quarter. Vanguard Group Inc. now owns 4,697,688 shares of the savings and loans company’s stock valued at $147,461,000 after purchasing an additional 448,443 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Berkshire Hills Bancorp by 64.5% in the second quarter. Invesco Ltd. now owns 1,069,186 shares of the savings and loans company’s stock valued at $33,562,000 after purchasing an additional 419,185 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 40.9% in the second quarter. Nuveen Asset Management LLC now owns 1,171,347 shares of the savings and loans company’s stock valued at $36,769,000 after purchasing an additional 340,284 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 37.5% in the first quarter. Westwood Holdings Group Inc. now owns 1,088,889 shares of the savings and loans company’s stock valued at $29,661,000 after purchasing an additional 297,201 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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