Insider Buying: Berkshire Hills Bancorp, Inc. (BHLB) Director Acquires 3,000 Shares of Stock
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director William J. Ryan purchased 3,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $37.87 per share, with a total value of $113,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Berkshire Hills Bancorp, Inc. (BHLB) traded up $1.10 during midday trading on Friday, reaching $38.30. The company had a trading volume of 632,529 shares, compared to its average volume of 212,108. 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, Inc. has a one year low of $32.85 and a one year high of $40.00. The stock has a market cap of $1,730.00, a PE ratio of 16.51 and a beta of 0.68.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, topping the Zacks’ 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 analysts’ expectations of $107.60 million. sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.29 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. BidaskClub cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $39.50 price objective on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Jefferies Group reaffirmed a “hold” rating and set a $40.00 price objective on shares of Berkshire Hills Bancorp in a research report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $41.00 price objective on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.90.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. lifted its holdings in Berkshire Hills Bancorp by 47.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,661 shares of the savings and loans company’s stock worth $656,000 after purchasing an additional 6,034 shares in the last quarter. Eagle Boston Investment Management Inc. lifted its holdings in Berkshire Hills Bancorp by 1.7% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 268,482 shares of the savings and loans company’s stock worth $10,618,000 after purchasing an additional 4,408 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new stake in shares of Berkshire Hills Bancorp during the 2nd quarter worth approximately $5,080,000. Koch Industries Inc. purchased a new stake in shares of Berkshire Hills Bancorp during the 2nd quarter worth approximately $288,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp during the 2nd quarter worth approximately $15,179,000. 67.29% of the stock is currently owned by institutional investors.
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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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