Berkshire Hills Bancorp's (BHLB) Sector Perform Rating Reiterated at Royal Bank of Canada

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report)'s stock had its "sector perform" rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Friday,Benzinga reports. They presently have a $31.00 target price on the savings and loans company's stock. Royal Bank of Canada's target price suggests a potential upside of 3.65% from the company's current price.

Several other analysts have also weighed in on BHLB. Keefe, Bruyette & Woods lifted their target price on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a "market perform" rating in a research report on Tuesday, December 24th. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Finally, Piper Sandler raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE:BHLB traded up $0.97 during trading hours on Friday, hitting $29.91. The stock had a trading volume of 395,609 shares, compared to its average volume of 413,546. The stock's fifty day simple moving average is $29.01 and its 200 day simple moving average is $27.98. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Berkshire Hills Bancorp has a 1-year low of $20.50 and a 1-year high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Sell-side analysts anticipate that Berkshire Hills Bancorp will post 2.48 earnings per share for the current fiscal year.

Institutional Trading of Berkshire Hills Bancorp

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Berkshire Hills Bancorp in the third quarter valued at about $34,000. nVerses Capital LLC lifted its stake in shares of Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company's stock valued at $54,000 after purchasing an additional 1,400 shares during the period. KBC Group NV increased its stake in shares of Berkshire Hills Bancorp by 57.8% in the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock valued at $82,000 after acquiring an additional 1,051 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Berkshire Hills Bancorp by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company's stock worth $134,000 after purchasing an additional 2,169 shares during the period. Finally, Plimoth Trust Co. LLC bought a new position in Berkshire Hills Bancorp in the 4th quarter valued at about $204,000. 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.