Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives Consensus Recommendation of "Hold" from Analysts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) has been given an average recommendation of "Hold" by the four ratings firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.00.

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a "market perform" rating in a research note on Tuesday, January 30th. Piper Sandler upgraded shares of 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. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a "sell" rating to a "neutral" rating in a research note on Monday, January 29th. 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. Finally, StockNews.com downgraded Berkshire Hills Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, March 21st.

Berkshire Hills Bancorp Price Performance

Shares of BHLB stock traded up $0.07 during trading hours on Friday, reaching $22.36. The company's stock had a trading volume of 184,968 shares, compared to its average volume of 233,281. Berkshire Hills Bancorp has a fifty-two week low of $18.07 and a fifty-two week high of $25.79. The firm's 50 day simple moving average is $21.85 and its 200-day simple moving average is $22.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $971.77 million, a price-to-earnings ratio of 44.72 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $169.32 million for the quarter, compared to analysts' expectations of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same quarter in the previous year, the business posted $0.63 earnings per share. Sell-side analysts forecast that Berkshire Hills Bancorp will post 2.06 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, March 20th. Berkshire Hills Bancorp's dividend payout ratio is presently 144.00%.

Insider Activity at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 29,062 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $23.09, for a total transaction of $671,041.58. Following the completion of the sale, the director now directly owns 127,147 shares in the company, valued at approximately $2,935,824.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 29,062 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $23.09, for a total transaction of $671,041.58. Following the transaction, the director now directly owns 127,147 shares in the company, valued at approximately $2,935,824.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The disclosure for this sale can be found here. Insiders have sold a total of 152,850 shares of company stock worth $3,437,063 over the last quarter. Company insiders own 1.02% of the company's stock.

Hedge Funds Weigh In On Berkshire Hills Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Berkshire Hills Bancorp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,382,777 shares of the savings and loans company's stock worth $27,725,000 after purchasing an additional 201,948 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Berkshire Hills Bancorp by 15.4% during the third quarter. American Century Companies Inc. now owns 397,579 shares of the savings and loans company's stock valued at $7,971,000 after buying an additional 53,162 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Berkshire Hills Bancorp by 8.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 205,597 shares of the savings and loans company's stock worth $4,122,000 after acquiring an additional 16,440 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter worth about $719,000. Finally, LPL Financial LLC lifted its position in Berkshire Hills Bancorp by 1.0% in the 3rd quarter. LPL Financial LLC now owns 208,947 shares of the savings and loans company's stock valued at $4,189,000 after acquiring an additional 2,115 shares in the last quarter. 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.