Keefe, Bruyette & Woods reiterated their buy rating on shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in a research note issued to investors on Tuesday. They currently have a $41.00 price target on the savings and loans company’s stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Monday, September 11th. BidaskClub raised shares of Berkshire Hills Bancorp from a hold rating to a buy rating in a research report on Saturday, September 30th. Finally, Jefferies Group LLC reissued a hold rating and issued a $38.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $38.08.

Shares of Berkshire Hills Bancorp (NYSE:BHLB) traded up 0.352% during trading on Tuesday, reaching $38.435. The company’s stock had a trading volume of 52,297 shares. The company’s 50-day moving average price is $35.13 and its 200 day moving average price is $35.67. Berkshire Hills Bancorp has a 1-year low of $27.25 and a 1-year high of $39.75. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 21.223 and a beta of 0.67.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The firm had revenue of $102.34 million during the quarter, compared to analyst estimates of $102.75 million. Analysts anticipate that Berkshire Hills Bancorp will post $2.26 EPS for the current year.

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In other news, Director Richard L. Murphy acquired 1,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $34.25 per share, with a total value of $34,250.00. Following the completion of the purchase, the director now owns 9,668 shares of the company’s stock, valued at $331,129. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard M. Marotta sold 9,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $33.32, for a total transaction of $316,540.00. Following the sale, the executive vice president now directly owns 28,523 shares in the company, valued at $950,386.36. The disclosure for this sale can be found here. 2.82% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHLB. Ameritas Investment Partners Inc. bought a new stake in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $101,000. New York State Teachers Retirement System grew its stake in shares of Berkshire Hills Bancorp by 7.4% during the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock valued at $105,000 after purchasing an additional 200 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $109,000. Quantbot Technologies LP bought a new stake in shares of Berkshire Hills Bancorp during the second quarter valued at approximately $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Berkshire Hills Bancorp by 263.2% during 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 purchasing an additional 2,500 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors and hedge funds.

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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