Berkshire Hills Bancorp - BHLB Stock Forecast, Price & News

Berkshire Hills Bancorp, Inc. operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans. The company also provides wealth management services comprising investment management, trust administration, and financial planning; and investment products, financial planning, and brokerage services. In addition, it offers electronic banking, commercial cash management, online banking, small business banking, asset based lending, and mobile banking services; and debit cards and other electronic fee producing payment services to transaction account customers. The company serves personal, commercial, non-profit, and municipal deposit customers. As of March 14, 2022, it operated 106 full-service branches in Massachusetts, New York, Connecticut, and Vermont. The company also has commercial banking offices in Providence, Rhode Island and New Haven, Connecticut. Berkshire Hills Bancorp, Inc. was founded in 1846 and is headquartered in Boston, Massachusetts.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Compass Point lowered shares of Berkshire Hills Bancorp from a "neutral" rating to a "sell" rating and cut their price target for the stock from $29.00 to $23.00 in a report on Thursday, April 21st. Piper Sandler boosted their target price on shares of Berkshire Hills Bancorp to $29.00 in a research note on Friday, July 22nd. Janney Montgomery Scott upgraded shares of Berkshire Hills Bancorp from a "neutral" rating to a "buy" rating and set a $31.00 price target on the stock in a research note on Thursday, July 21st. Finally, TheStreet cut shares of Berkshire Hills Bancorp from a "b-" rating to a "c" rating in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Berkshire Hills Bancorp presently has an average rating of "Hold" and a consensus price target of $29.00.

Berkshire Hills Bancorp Stock Up 1.1 %

NYSE:BHLB traded up $0.31 during trading hours on Friday, reaching $29.00. 261,497 shares of the company's stock traded hands, compared to its average volume of 280,744. Berkshire Hills Bancorp has a 52-week low of $23.15 and a 52-week high of $31.78. The firm has a market cap of $1.39 billion, a PE ratio of 10.94 and a beta of 1.07. The firm has a 50-day simple moving average of $25.84 and a 200 day simple moving average of $27.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.85 and a quick ratio of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB - Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The savings and loans company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Berkshire Hills Bancorp had a net margin of 28.30% and a return on equity of 8.08%. During the same quarter in the previous year, the company posted $0.44 earnings per share. Sell-side analysts anticipate that Berkshire Hills Bancorp will post 2.08 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.66%. Berkshire Hills Bancorp's dividend payout ratio is currently 18.11%.

Insider Buying and Selling at Berkshire Hills Bancorp

In related news, Director Michael Zaitzeff sold 1,274,279 shares of the business's stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $24.70, for a total transaction of $31,474,691.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.