Brokerages Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Price Target at $31.13

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.13.

A number of research analysts recently weighed in on the company. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a report on Tuesday, December 24th.

Insider Buying and Selling at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Berkshire Hills Bancorp

A number of institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 282.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock worth $31,000 after acquiring an additional 821 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Berkshire Hills Bancorp during the 3rd quarter worth approximately $34,000. Quarry LP lifted its holdings in shares of Berkshire Hills Bancorp by 142.7% during the 4th quarter. Quarry LP now owns 1,291 shares of the savings and loans company’s stock worth $37,000 after acquiring an additional 759 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 805.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company’s stock worth $39,000 after acquiring an additional 1,224 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Berkshire Hills Bancorp by 2,259.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company’s stock worth $64,000 after acquiring an additional 2,169 shares during the period. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of NYSE:BHLB opened at $26.26 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 18.23 and a beta of 0.85. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp has a 52 week low of $20.50 and a 52 week high of $32.36. The business has a fifty day simple moving average of $28.29 and a 200-day simple moving average of $28.32.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Equities research analysts forecast that Berkshire Hills Bancorp will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.18 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.72 annualized dividend and a yield of 2.74%. Berkshire Hills Bancorp’s payout ratio is currently 50.00%.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.