Berkshire Hills Bancorp (BHLB) – Analysts’ Recent Ratings Updates

Berkshire Hills Bancorp (NYSE: BHLB) recently received a number of ratings updates from brokerages and research firms:

  • 5/10/2021 – Berkshire Hills Bancorp was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $27.00 price target on the stock, up previously from $25.00.
  • 5/6/2021 – Berkshire Hills Bancorp had its “neutral” rating reaffirmed by analysts at Compass Point. They now have a $23.00 price target on the stock, down previously from $28.00.
  • 5/4/2021 – Berkshire Hills Bancorp was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $27.00 price target on the stock, up previously from $25.00.
  • 5/3/2021 – Berkshire Hills Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “
  • 4/30/2021 – Berkshire Hills Bancorp was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating. They now have a $23.00 price target on the stock, down previously from $28.00.
  • 4/28/2021 – Berkshire Hills Bancorp was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.
  • 3/30/2021 – Berkshire Hills Bancorp was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “

BHLB traded down $0.06 during midday trading on Monday, hitting $26.37. 2,937 shares of the company were exchanged, compared to its average volume of 346,968. The company’s 50 day simple moving average is $22.89 and its 200 day simple moving average is $19.57. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -2.54 and a beta of 1.20. Berkshire Hills Bancorp, Inc. has a 1-year low of $8.55 and a 1-year high of $26.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Wednesday, April 28th. The savings and loans company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.19 by $0.13. Berkshire Hills Bancorp had a positive return on equity of 3.61% and a negative net margin of 102.52%. On average, equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 0.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 23rd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.82%. Berkshire Hills Bancorp’s payout ratio is 20.00%.

In other Berkshire Hills Bancorp news, CFO Subhadeep Basu purchased 5,000 shares of the stock in a transaction on Wednesday, May 5th. The shares were bought at an average price of $23.70 per share, for a total transaction of $118,500.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $118,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nitin J. Mhatre acquired 6,000 shares of the business’s stock in a transaction dated Friday, May 7th. The stock was acquired at an average price of $24.53 per share, with a total value of $147,180.00. Following the completion of the transaction, the chief executive officer now directly owns 12,000 shares of the company’s stock, valued at $294,360. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 22,287 shares of company stock valued at $534,333. Insiders own 5.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Berkshire Hills Bancorp by 0.3% in the 1st quarter. BlackRock Inc. now owns 7,532,759 shares of the savings and loans company’s stock worth $168,131,000 after acquiring an additional 24,486 shares in the last quarter. Aristotle Capital Boston LLC increased its stake in shares of Berkshire Hills Bancorp by 20.4% during the fourth quarter. Aristotle Capital Boston LLC now owns 1,193,871 shares of the savings and loans company’s stock worth $20,439,000 after purchasing an additional 202,333 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of Berkshire Hills Bancorp by 7.9% during the 1st quarter. Clark Capital Management Group Inc. now owns 1,091,704 shares of the savings and loans company’s stock worth $24,367,000 after purchasing an additional 80,000 shares during the last quarter. HoldCo Asset Management L.P. purchased a new position in Berkshire Hills Bancorp in the 4th quarter valued at about $14,466,000. Finally, Geode Capital Management LLC boosted its holdings in Berkshire Hills Bancorp by 13.4% in the 1st quarter. Geode Capital Management LLC now owns 814,775 shares of the savings and loans company’s stock worth $18,185,000 after buying an additional 96,093 shares during the last quarter. 75.48% of the stock is currently owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp, Inc operates as a 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.

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