Berkshire Hills Bancorp's (BHLB) Sector Perform Rating Reiterated at Royal Bank of Canada

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report)'s stock had its "sector perform" rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $31.00 price target on the savings and loans company's stock. Royal Bank of Canada's price objective indicates a potential upside of 20.95% from the stock's previous close.

Berkshire Hills Bancorp Stock Performance

BHLB traded up $0.54 on Monday, reaching $25.63. The company had a trading volume of 351,876 shares, compared to its average volume of 368,849. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp has a 1 year low of $20.76 and a 1 year high of $32.36. The stock has a market capitalization of $1.19 billion, a PE ratio of 17.80 and a beta of 0.53. The stock has a 50-day moving average price of $25.38 and a 200-day moving average price of $27.81.

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 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. The business had revenue of $110.44 million during the quarter, compared to the consensus estimate of $109.71 million. During the same period in the previous year, the business earned $0.49 EPS. The business's quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Berkshire Hills Bancorp will post 2.52 EPS for the current fiscal year.

Insider Activity

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Barclays PLC grew its holdings in Berkshire Hills Bancorp by 105.0% during the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company's stock valued at $2,595,000 after buying an additional 49,356 shares during the last quarter. Amundi boosted its stake in shares of Berkshire Hills Bancorp by 187.0% during the fourth quarter. Amundi now owns 20,470 shares of the savings and loans company's stock valued at $571,000 after acquiring an additional 13,337 shares during the last quarter. JPMorgan Chase & Co. increased its position in Berkshire Hills Bancorp by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company's stock worth $5,135,000 after purchasing an additional 72,402 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Berkshire Hills Bancorp by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,307 shares of the savings and loans company's stock worth $12,035,000 after purchasing an additional 15,383 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Berkshire Hills Bancorp by 282.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after purchasing an additional 821 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.