Analysts Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Target Price at $25.00

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) have earned an average recommendation of "Hold" from the four research firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $25.00.

BHLB has been the topic of a number of recent analyst reports. StockNews.com lowered Berkshire Hills Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, March 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $26.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 26th. Seaport Res Ptn raised Berkshire Hills Bancorp from a "sell" rating to a "neutral" rating in a research report on Monday, January 29th. Piper Sandler upgraded Berkshire Hills Bancorp from an "underweight" rating to a "neutral" rating and set a $24.00 price target on the stock in a report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a "market perform" rating in a report on Tuesday, January 30th.

Berkshire Hills Bancorp Price Performance

Shares of BHLB traded down $1.40 during midday trading on Wednesday, reaching $20.86. The stock had a trading volume of 227,604 shares, compared to its average volume of 243,673. Berkshire Hills Bancorp has a 52 week low of $18.07 and a 52 week high of $25.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. The firm's 50 day moving average price is $22.15 and its 200-day moving average price is $22.16. The company has a market capitalization of $906.66 million, a P/E ratio of 13.04 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). Berkshire Hills Bancorp had a return on equity of 9.48% and a net margin of 11.24%. The firm had revenue of $142.15 million during the quarter, compared to the consensus estimate of $109.05 million. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts forecast that Berkshire Hills Bancorp will post 2.04 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, April 4th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.45%. Berkshire Hills Bancorp's dividend payout ratio is 45.00%.

Insider Activity

In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 51,910 shares of the business's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $25.18, for a total value of $1,307,093.80. Following the transaction, the director now owns 2,665 shares in the company, valued at $67,104.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 51,910 shares of the business's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $25.18, for a total value of $1,307,093.80. Following the transaction, the director now owns 2,665 shares in the company, valued at $67,104.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baye Adofo-Wilson sold 10,074 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $22.19, for a total value of $223,542.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,788 shares of company stock worth $5,239,449. 1.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Berkshire Hills Bancorp during the 1st quarter worth about $35,000. Quarry LP bought a new stake in shares of Berkshire Hills Bancorp during the 1st quarter worth about $57,000. Russell Investments Group Ltd. bought a new stake in shares of Berkshire Hills Bancorp during the 1st quarter worth about $57,000. Tower Research Capital LLC TRC boosted its stake in shares of Berkshire Hills Bancorp by 304.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,538 shares of the savings and loans company's stock worth $63,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Point72 Middle East FZE bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth about $119,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

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.