Berkshire Hills Bancorp (NYSE:BHLB) Upgraded to Hold by ValuEngine

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

Several other research analysts have also commented on BHLB. Zacks Investment Research raised Berkshire Hills Bancorp from a sell rating to a hold rating in a research report on Tuesday, July 7th. DA Davidson lowered Berkshire Hills Bancorp from a buy rating to a neutral rating and reduced their price target for the stock from $20.00 to $14.00 in a research report on Wednesday, May 6th. Compass Point lowered Berkshire Hills Bancorp from a neutral rating to a sell rating in a research report on Wednesday, May 6th. Finally, Piper Sandler raised Berkshire Hills Bancorp from a neutral rating to an overweight rating and reduced their target price for the company from $15.50 to $14.50 in a research report on Friday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $18.75.

BHLB opened at $9.96 on Wednesday. The firm has a market cap of $499.89 million, a price-to-earnings ratio of 8.20 and a beta of 1.32. The company has a current ratio of 0.90, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Berkshire Hills Bancorp has a 12 month low of $9.15 and a 12 month high of $33.72. The stock has a fifty day moving average price of $10.63 and a 200-day moving average price of $17.47.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Wednesday, July 29th. The savings and loans company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.25). The company had revenue of $94.97 million during the quarter, compared to the consensus estimate of $105.70 million. Berkshire Hills Bancorp had a positive return on equity of 3.87% and a negative net margin of 95.25%. On average, equities research analysts forecast that Berkshire Hills Bancorp will post 0.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 29th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 9.64%. The ex-dividend date was Friday, June 26th. Berkshire Hills Bancorp’s dividend payout ratio is currently 40.00%.

Hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. acquired a new position in shares of Berkshire Hills Bancorp in the first quarter valued at about $27,000. Asio Capital LLC acquired a new position in shares of Berkshire Hills Bancorp in the second quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Berkshire Hills Bancorp by 41.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,071 shares of the savings and loans company’s stock valued at $60,000 after purchasing an additional 1,193 shares during the period. US Bancorp DE increased its holdings in shares of Berkshire Hills Bancorp by 55.6% in the first quarter. US Bancorp DE now owns 7,048 shares of the savings and loans company’s stock valued at $105,000 after purchasing an additional 2,517 shares during the period. Finally, Plimoth Trust Co. LLC acquired a new position in shares of Berkshire Hills Bancorp in the second quarter valued at about $168,000. 77.12% of the stock is currently owned by institutional investors and hedge funds.

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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