Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives Average Rating of "Moderate Buy" from Brokerages

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

Several equities research analysts have weighed in on BHLB shares. Keefe, Bruyette & Woods increased their price objective on 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 research note on Monday, December 16th. Piper Sandler raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st.

Berkshire Hills Bancorp Trading Down 1.4 %

Shares of NYSE BHLB traded down $0.40 during mid-day trading on Monday, hitting $28.64. The stock had a trading volume of 419,062 shares, compared to its average volume of 386,068. The business has a 50 day moving average price of $28.80 and a two-hundred day moving average price of $28.17. Berkshire Hills Bancorp has a 1 year low of $20.50 and a 1 year high of $32.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $1.23 billion, a P/E ratio of 19.89 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings data 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 net margin of 8.56% and a return on equity of 8.91%. On average, equities analysts anticipate that Berkshire Hills Bancorp will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.72 dividend on an annualized basis and a yield of 2.51%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is currently 50.00%.

Insiders Place Their Bets

In other news, EVP Ellen Tulchiner sold 1,052 shares of the 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 legal filing with the SEC, which is available through this link. Corporate insiders own 1.02% of the company's stock.

Hedge Funds Weigh In On Berkshire Hills Bancorp

A number of hedge funds have recently bought and sold shares of BHLB. PNC Financial Services Group Inc. raised its holdings in Berkshire Hills Bancorp by 3.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company's stock worth $376,000 after buying an additional 382 shares during the last quarter. FMR LLC raised its holdings in Berkshire Hills Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock worth $415,000 after acquiring an additional 496 shares during the last quarter. Bank of Montreal Can boosted its stake in Berkshire Hills Bancorp by 7.2% during the 4th quarter. Bank of Montreal Can now owns 10,292 shares of the savings and loans company's stock valued at $293,000 after purchasing an additional 690 shares during the last quarter. Quarry LP increased its holdings in shares of Berkshire Hills Bancorp by 142.7% in 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 shares of Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock worth $31,000 after purchasing an additional 821 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

About Berkshire Hills Bancorp

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.