Insider Buying: Berkshire Hills Bancorp, Inc. (BHLB) Director Purchases 1,000 Shares of Stock
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director Patrick J. Sheehan bought 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $37.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now directly owns 1,168 shares in the company, valued at approximately $43,216. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Berkshire Hills Bancorp, Inc. (NYSE BHLB) traded up $0.70 during midday trading on Friday, hitting $37.30. The stock had a trading volume of 225,028 shares, compared to its average volume of 217,067. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33. Berkshire Hills Bancorp, Inc. has a 1-year low of $32.85 and a 1-year high of $40.00. The firm has a market cap of $1,720.00, a price-to-earnings ratio of 25.55 and a beta of 0.70.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.44% and a net margin of 11.37%. The business had revenue of $115.66 million for the quarter, compared to analyst estimates of $115.50 million. sell-side analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current year.
Several equities research analysts have recently weighed in on BHLB shares. Piper Jaffray Companies reissued a “buy” rating and set a $39.50 target price on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, BidaskClub lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.30.
Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its stake in Berkshire Hills Bancorp by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock worth $110,000 after buying an additional 318 shares during the last quarter. Royal Bank of Canada grew its stake in Berkshire Hills Bancorp by 4.3% during the 2nd quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock worth $182,000 after buying an additional 212 shares during the last quarter. Intrust Bank NA purchased a new position in Berkshire Hills Bancorp during the 4th quarter worth approximately $212,000. FDx Advisors Inc. purchased a new position in Berkshire Hills Bancorp during the 3rd quarter worth approximately $217,000. Finally, Gamco Investors INC. ET AL purchased a new position in Berkshire Hills Bancorp during the 3rd quarter worth approximately $233,000. Hedge funds and other institutional investors own 66.82% 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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