Somewhat Positive News Coverage Somewhat Unlikely to Impact Berkshire Hills Bancorp (BHLB) Share Price
News stories about Berkshire Hills Bancorp (NYSE:BHLB) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Berkshire Hills Bancorp earned a media sentiment score of 0.20 on Accern’s scale. Accern also gave media headlines about the savings and loans company an impact score of 45.6240456275255 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Berkshire Hills Bank’s Commerce Bank buy gets regulatory OK (journalinquirer.com)
- BRIEF-Berkshire Hills, Commerce Bancshares announce receipt of regulatory approvals and targeted closing date of pending merger (reuters.com)
- Berkshire Hills Bancorp’s (BHLB) “Buy” Rating Reaffirmed at Keefe, Bruyette & Woods (americanbankingnews.com)
- Berkshire Hills Bancorp Reaches Analyst Target Price (thestreet.com)
- Berkshire Hills and Commerce Bancshares Announce Receipt of Regulatory Approvals and Targeted Closing Date of Pending Merger (finance.yahoo.com)
Several analysts have recently commented on BHLB shares. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Jefferies Group LLC reiterated a “hold” rating and set a $38.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, September 15th. BidaskClub upgraded Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. FIG Partners reiterated an “outperform” rating and set a $41.00 price objective on shares of Berkshire Hills Bancorp in a report on Wednesday, September 20th. Finally, Piper Jaffray Companies upgraded Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 price objective for the company in a report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Berkshire Hills Bancorp presently has a consensus rating of “Buy” and a consensus price target of $38.08.
Shares of Berkshire Hills Bancorp (BHLB) traded up 0.79% during trading on Thursday, reaching $38.20. The company had a trading volume of 115,159 shares. Berkshire Hills Bancorp has a 1-year low of $27.25 and a 1-year high of $39.75. The firm has a market capitalization of $1.53 billion, a PE ratio of 21.09 and a beta of 0.67. The firm has a 50-day moving average of $35.00 and a 200 day moving average of $35.65.
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 (EPS) for the quarter, beating the 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 company had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million. Analysts expect that Berkshire Hills Bancorp will post $2.26 earnings per share for the current year.
In related news, Director Richard L. Murphy acquired 1,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was bought at an average price of $34.25 per share, for a total transaction of $34,250.00. Following the completion of the purchase, the director now directly owns 9,668 shares of the company’s stock, valued at approximately $331,129. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael P. Daly sold 25,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $33.78, for a total transaction of $844,500.00. Following the completion of the transaction, the insider now owns 103,670 shares of the company’s stock, valued at approximately $3,501,972.60. The disclosure for this sale can be found here. Corporate insiders own 2.82% 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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