Berkshire Hills Bancorp (NYSE:BHLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

Several other equities research analysts have also weighed in on BHLB. BidaskClub upgraded Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Jefferies Group reiterated a “hold” rating and issued a $38.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, September 15th. FIG Partners reiterated an “outperform” rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $39.50 price objective on shares of Berkshire Hills Bancorp in a research note on Sunday, October 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $41.30.

Berkshire Hills Bancorp (NYSE:BHLB) opened at $37.30 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1,686.21, a P/E ratio of 20.05 and a beta of 0.69. Berkshire Hills Bancorp has a twelve month low of $32.85 and a twelve month high of $40.00.

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

In related news, Director James Williar Dunlaevy sold 7,455 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $39.30, for a total transaction of $292,981.50. Following the sale, the director now directly owns 67,747 shares in the company, valued at approximately $2,662,457.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael D. Carroll sold 2,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $38.50, for a total value of $77,000.00. Following the sale, the insider now owns 7,255 shares in the company, valued at $279,317.50. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its position in Berkshire Hills Bancorp by 140.3% during the 3rd quarter. GSA Capital Partners LLP now owns 55,483 shares of the savings and loans company’s stock worth $2,150,000 after acquiring an additional 32,394 shares during the last quarter. California Public Employees Retirement System grew its position in Berkshire Hills Bancorp by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 112,776 shares of the savings and loans company’s stock worth $4,370,000 after acquiring an additional 2,076 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Berkshire Hills Bancorp by 47.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,659 shares of the savings and loans company’s stock worth $413,000 after acquiring an additional 3,441 shares during the last quarter. Jane Street Group LLC bought a new stake in Berkshire Hills Bancorp during the 3rd quarter worth approximately $294,000. Finally, Cornerstone Capital Management Holdings LLC. grew its position in Berkshire Hills Bancorp by 19.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 122,824 shares of the savings and loans company’s stock worth $4,758,000 after acquiring an additional 19,800 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.

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About Berkshire Hills Bancorp

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.

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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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