Berkshire Hills Bancorp (BHLB) Stock Rating Reaffirmed by Piper Jaffray Companies
Piper Jaffray Companies reiterated their buy rating on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a report published on Tuesday. Piper Jaffray Companies currently has a $42.50 price target on the savings and loans company’s stock.
A number of other research firms also recently weighed in on BHLB. Keefe, Bruyette & Woods reissued a buy rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Zacks Investment Research raised Berkshire Hills Bancorp from a sell rating to a hold rating in a research report on Thursday, November 30th. Jefferies Group reissued a hold rating and set a $40.00 target price on shares of Berkshire Hills Bancorp in a research report on Wednesday, October 11th. Finally, BidaskClub raised Berkshire Hills Bancorp from a hold rating to a buy rating in a research report on Saturday, September 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $41.30.
Shares of Berkshire Hills Bancorp (NYSE BHLB) traded up $0.25 during trading hours on Tuesday, hitting $37.55. The stock had a trading volume of 415,227 shares, compared to its average volume of 230,600. The firm has a market capitalization of $1,720.00, a P/E ratio of 20.30 and a beta of 0.68. Berkshire Hills Bancorp has a 12 month low of $32.85 and a 12 month high of $40.00. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $107.60 million. research analysts predict that Berkshire Hills Bancorp will post 2.29 EPS for the current fiscal year.
In other Berkshire Hills Bancorp news, insider Michael D. Carroll sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.50, for a total transaction of $77,000.00. Following the completion of the transaction, the insider now owns 7,255 shares in the company, valued at $279,317.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Williar Dunlaevy sold 7,455 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $39.30, for a total transaction of $292,981.50. Following the transaction, the director now owns 67,747 shares of the company’s stock, valued at approximately $2,662,457.10. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in Berkshire Hills Bancorp by 11.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock worth $110,000 after purchasing an additional 318 shares during the period. Quantbot Technologies LP bought a new position in Berkshire Hills Bancorp during the second quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Berkshire Hills Bancorp by 263.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock valued at $121,000 after acquiring an additional 2,500 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Berkshire Hills Bancorp by 129.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the savings and loans company’s stock valued at $154,000 after acquiring an additional 2,471 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Berkshire Hills Bancorp by 4.3% in the second quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock valued at $182,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.
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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.
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