Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Downgraded by BidaskClub

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, November 7th.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, September 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $39.50 price objective on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective on shares of Berkshire Hills Bancorp in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $40.90.

Shares of Berkshire Hills Bancorp (NYSE:BHLB) traded down $0.40 during trading on Tuesday, hitting $37.15. 71,129 shares of the stock were exchanged, compared to its average volume of 137,888. The firm has a market cap of $1,681.67, a PE ratio of 16.29 and a beta of 0.69. Berkshire Hills Bancorp has a fifty-two week low of $32.85 and a fifty-two week high of $40.00. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $100.83 million for the quarter, compared to analysts’ expectations of $107.60 million. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. equities analysts expect that Berkshire Hills Bancorp will post 2.29 EPS for the current year.

In other Berkshire Hills Bancorp news, insider Michael P. Daly sold 25,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $33.78, for a total transaction of $844,500.00. Following the sale, the insider now directly owns 103,670 shares in the company, valued at approximately $3,501,972.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.82% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its stake in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after buying an additional 200 shares during the last quarter. Royal Bank of Canada raised its stake in Berkshire Hills Bancorp by 4.3% in the 2nd quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock valued at $182,000 after purchasing an additional 212 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Berkshire Hills Bancorp by 0.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,800 shares of the savings and loans company’s stock valued at $1,821,000 after purchasing an additional 300 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Berkshire Hills Bancorp by 11.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock valued at $110,000 after purchasing an additional 318 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Berkshire Hills Bancorp by 4.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,690 shares of the savings and loans company’s stock valued at $306,000 after purchasing an additional 400 shares during the last quarter. 67.40% of the stock is owned by institutional investors and hedge funds.

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Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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