Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Berkshire Hills Bancorp (NYSE:BHLB) Stock

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) had its price target increased by equities researchers at Keefe, Bruyette & Woods from $32.00 to $34.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the savings and loans company's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 20.38% from the company's current price.

Other analysts also recently issued reports about the company. Seaport Res Ptn 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 reduced their target price on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Tuesday, December 17th. Finally, Piper Sandler raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.70.

Berkshire Hills Bancorp Trading Up 0.2 %

NYSE:BHLB traded up $0.06 during mid-day trading on Tuesday, reaching $28.66. The company's stock had a trading volume of 241,893 shares, compared to its average volume of 278,329. Berkshire Hills Bancorp has a twelve month low of $20.50 and a twelve month high of $32.36. The company's fifty day simple moving average is $29.43 and its two-hundred day simple moving average is $26.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $1.23 billion, a P/E ratio of 30.17 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The business had revenue of $125.70 million for the quarter, compared to analysts' expectations of $119.61 million. During the same period last year, the company earned $0.50 earnings per share. The company's quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts predict that Berkshire Hills Bancorp will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Berkshire Hills Bancorp during the third quarter worth about $34,000. nVerses Capital LLC grew its position in Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company's stock worth $54,000 after buying an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Berkshire Hills Bancorp in the second quarter valued at $104,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Berkshire Hills Bancorp by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company's stock valued at $134,000 after acquiring an additional 2,169 shares during the last quarter. Finally, Joel Isaacson & Co. LLC bought a new stake in shares of Berkshire Hills Bancorp during the 3rd quarter worth $211,000. 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.