FIG Partners reaffirmed their outperform rating on shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in a report published on Wednesday morning. They currently have a $41.00 target price on the savings and loans company’s stock.

Other equities analysts also recently issued reports about the company. BidaskClub downgraded Berkshire Hills Bancorp from a hold rating to a sell rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded Berkshire Hills Bancorp from a buy rating to a hold rating in a research note on Monday, July 10th. Piper Jaffray Companies raised Berkshire Hills Bancorp from a neutral rating to an overweight rating and set a $39.50 price objective for the company in a research note on Thursday, September 7th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $38.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, September 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $38.08.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. The firm had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, August 8th. Berkshire Hills Bancorp’s payout ratio is currently 46.15%.

In related news, Director Richard L. Murphy bought 1,000 shares of the stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $34.25 per share, for a total transaction of $34,250.00. Following the acquisition, the director now owns 9,668 shares in the company, valued at $331,129. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Daly sold 25,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $33.78, for a total value of $844,500.00. Following the sale, the insider now owns 103,670 shares in the company, valued at approximately $3,501,972.60. The disclosure for this sale can be found here. 2.82% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in BHLB. Vanguard Group Inc. grew its holdings in Berkshire Hills Bancorp by 20.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock valued at $109,814,000 after buying an additional 540,080 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in Berkshire Hills Bancorp during the 2nd quarter valued at $15,179,000. Koch Industries Inc. acquired a new stake in Berkshire Hills Bancorp during the 2nd quarter valued at $288,000. The Manufacturers Life Insurance Company grew its holdings in Berkshire Hills Bancorp by 29.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,137,717 shares of the savings and loans company’s stock valued at $39,991,000 after buying an additional 255,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Berkshire Hills Bancorp by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,023,639 shares of the savings and loans company’s stock valued at $106,281,000 after buying an additional 202,898 shares during the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.

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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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