Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives $28.20 Average Price Target from Analysts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $28.20.

Separately, Keefe, Bruyette & Woods raised their price target on shares of Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at about $34,000. nVerses Capital LLC grew 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 during the period. Meeder Asset Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the second quarter valued at approximately $104,000. Northwestern Mutual Wealth Management Co. raised its stake 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 period. Finally, Joel Isaacson & Co. LLC purchased a new position in shares of Berkshire Hills Bancorp during the 3rd quarter valued at approximately $211,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock opened at $30.31 on Wednesday. The business has a fifty day moving average of $28.89 and a 200 day moving average of $26.29. 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 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 31.91 and a beta of 0.88.

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

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, November 14th. Berkshire Hills Bancorp’s dividend payout ratio is currently 75.79%.

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.