Brokerages Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) PT at $25.00

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been given a consensus recommendation of “Hold” by the four ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $25.00.

A number of analysts have weighed in on the stock. StockNews.com cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. 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 upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report 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 report on Friday, January 26th. Finally, Keefe, Bruyette & Woods raised their price objective on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th.

Insider Transactions at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 29,062 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 owns 127,147 shares in the company, valued at approximately $2,935,824.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Berkshire Hills Bancorp news, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Zaitzeff sold 29,062 shares of the business’s 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 transaction, the director now owns 127,147 shares in the company, valued at $2,935,824.23. The disclosure for this sale can be found here. Insiders have sold 133,190 shares of company stock valued at $3,000,611 in the last 90 days. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Several hedge funds have recently modified their holdings of BHLB. Wellington Management Group LLP grew its stake in 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 valued at $27,725,000 after purchasing an additional 201,948 shares during the period. American Century Companies Inc. increased its position in Berkshire Hills Bancorp by 15.4% in the third quarter. American Century Companies Inc. now owns 397,579 shares of the savings and loans company’s stock worth $7,971,000 after buying an additional 53,162 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Berkshire Hills Bancorp by 8.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 205,597 shares of the savings and loans company’s stock valued at $4,122,000 after buying an additional 16,440 shares during the last quarter. LSV Asset Management bought a new position in shares of Berkshire Hills Bancorp during the 3rd quarter worth $719,000. Finally, LPL Financial LLC increased its holdings 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 worth $4,189,000 after acquiring an additional 2,115 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Up 0.0 %

Shares of NYSE BHLB opened at $22.52 on Friday. Berkshire Hills Bancorp has a 52 week low of $18.31 and a 52 week high of $25.79. The stock’s fifty day moving average is $21.87 and its 200 day moving average is $22.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $978.72 million, a P/E ratio of 45.04 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data 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. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. The business had revenue of $169.32 million for the quarter, compared to analysts’ expectations of $107.89 million. During the same period last year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Berkshire Hills Bancorp will post 2.06 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Wednesday, March 20th. Berkshire Hills Bancorp’s payout ratio is 144.00%.

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.