Berkshire Hills Bancorp (NYSE:BHLB) Stock Rating Upgraded by Seaport Res Ptn

Berkshire Hills Bancorp (NYSE:BHLB) was upgraded by research analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.56 EPS and FY2025 earnings at $2.48 EPS.

BHLB has been the subject of several other research reports. Royal Bank of Canada reduced their price target on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of Berkshire Hills Bancorp from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.20.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE BHLB opened at $29.13 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $29.23 and its two-hundred day moving average price is $26.52. Berkshire Hills Bancorp has a 52-week low of $20.50 and a 52-week high of $32.36. The stock has a market capitalization of $1.25 billion, a P/E ratio of 30.66 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. As a group, sell-side analysts forecast that Berkshire Hills Bancorp will post 2.16 earnings per share for the current year.

Institutional Trading of Berkshire Hills Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its stake 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 purchasing an additional 49,356 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Berkshire Hills Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 36,058 shares of the savings and loans company’s stock valued at $971,000 after buying an additional 2,268 shares during the period. Wellington Management Group LLP boosted its stake in Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock valued at $44,815,000 after buying an additional 293,784 shares in the last quarter. State Street Corp grew its holdings in Berkshire Hills Bancorp by 0.9% during the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after acquiring an additional 18,307 shares during the period. Finally, Systematic Financial Management LP grew its holdings in Berkshire Hills Bancorp by 13.7% during the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock worth $25,654,000 after acquiring an additional 114,433 shares during the period. 83.07% of the stock is currently owned by 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.