Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives $31.13 Average Target Price from Brokerages

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.13.

Separately, Royal Bank of Canada reiterated a "sector perform" rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Monday, April 28th.

Berkshire Hills Bancorp Stock Up 0.3%

Shares of Berkshire Hills Bancorp stock traded up $0.08 on Wednesday, hitting $25.03. The company had a trading volume of 365,911 shares, compared to its average volume of 386,792. The firm has a market capitalization of $1.16 billion, a P/E ratio of 17.38 and a beta of 0.53. Berkshire Hills Bancorp has a twelve month low of $20.76 and a twelve month high of $32.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day moving average of $24.99 and a 200-day moving average of $27.48.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $110.44 million during the quarter, compared to analysts' expectations of $109.71 million. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Research analysts predict that Berkshire Hills Bancorp will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 2.88%. Berkshire Hills Bancorp's dividend payout ratio is presently 29.15%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. increased its stake in shares of Berkshire Hills Bancorp by 166.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,842,975 shares of the savings and loans company's stock valued at $48,083,000 after acquiring an additional 1,151,107 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Berkshire Hills Bancorp during the 4th quarter worth $29,410,000. Nuveen LLC purchased a new position in Berkshire Hills Bancorp during the 1st quarter worth $17,966,000. ExodusPoint Capital Management LP boosted its holdings in shares of Berkshire Hills Bancorp by 623.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company's stock worth $14,687,000 after buying an additional 445,228 shares during the last quarter. Finally, Bayview Asset Management LLC purchased a new position in shares of Berkshire Hills Bancorp in the 4th quarter worth about $9,330,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.