Brokerages Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Target Price at $31.13

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $31.13.

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

Institutional Investors Weigh In On Berkshire Hills Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in BHLB. Fuller & Thaler Asset Management Inc. grew its position in shares of Berkshire Hills Bancorp by 166.4% in the first 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 purchasing an additional 1,151,107 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Berkshire Hills Bancorp during the fourth quarter worth about $29,410,000. Nuveen LLC acquired a new stake in Berkshire Hills Bancorp during the first quarter worth about $17,966,000. ExodusPoint Capital Management LP grew its position in Berkshire Hills Bancorp by 623.8% during the fourth 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 in the last quarter. Finally, Bayview Asset Management LLC acquired a new stake in Berkshire Hills Bancorp during the fourth quarter worth about $9,330,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Stock Down 0.1%

Shares of NYSE:BHLB traded down $0.03 during midday trading on Friday, hitting $23.86. 998,952 shares of the stock were exchanged, compared to its average volume of 400,579. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $1.10 billion, a PE ratio of 9.66 and a beta of 0.63. Berkshire Hills Bancorp has a 52-week low of $21.16 and a 52-week high of $32.36. The business's fifty day simple moving average is $24.94 and its two-hundred day simple moving average is $26.76.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its earnings results on Thursday, April 24th. The savings and loans company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. The firm had revenue of $110.44 million for the quarter, compared to the consensus estimate of $109.71 million. Berkshire Hills Bancorp had a net margin of 15.02% and a return on equity of 9.13%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, research analysts predict that Berkshire Hills Bancorp will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Thursday, May 15th. Berkshire Hills Bancorp's dividend payout ratio is currently 29.15%.

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.