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

Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $31.13.

BHLB has been the subject of a number of analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a "market perform" rating in a report on Tuesday, December 24th. Seaport Res Ptn raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Finally, Piper Sandler upgraded Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB traded down $0.08 during mid-day trading on Tuesday, hitting $22.90. 617,101 shares of the company's stock were exchanged, compared to its average volume of 351,811. The firm has a market capitalization of $1.06 billion, a P/E ratio of 15.90 and a beta of 0.58. Berkshire Hills Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. The business's 50 day moving average is $26.88 and its two-hundred day moving average is $28.05. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (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%. On average, equities analysts expect that Berkshire Hills Bancorp will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.72 annualized dividend and a yield of 3.14%. Berkshire Hills Bancorp's payout ratio is currently 50.00%.

Insider Activity

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Berkshire Hills Bancorp by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company's stock valued at $376,000 after buying an additional 382 shares during the last quarter. FMR LLC boosted its stake in shares of Berkshire Hills Bancorp by 3.3% during the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock valued at $415,000 after acquiring an additional 496 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Berkshire Hills Bancorp by 7.2% during the fourth quarter. Bank of Montreal Can now owns 10,292 shares of the savings and loans company's stock valued at $293,000 after acquiring an additional 690 shares during the last quarter. Quarry LP increased its position in 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 purchasing an additional 759 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Berkshire Hills Bancorp by 282.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after purchasing an additional 821 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.