Berkshire Hills Bancorp, Inc. (BHLB) Receives $41.50 Consensus PT from Analysts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has received an average recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.50.

A number of equities research analysts recently commented on BHLB shares. Zacks Investment Research raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Wednesday, January 31st. Piper Jaffray reaffirmed a “buy” rating and set a $42.50 target price on shares of Berkshire Hills Bancorp in a report on Tuesday, January 9th.

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In related news, Director Richard L. Murphy purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average cost of $37.00 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 11,884 shares of the company’s stock, valued at approximately $439,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick J. Sheehan purchased 8,938 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $37.11 per share, with a total value of $331,689.18. Following the completion of the acquisition, the director now directly owns 1,168 shares of the company’s stock, valued at approximately $43,344.48. The disclosure for this purchase can be found here. Insiders have purchased 10,938 shares of company stock valued at $405,689 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.



Large investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its holdings in Berkshire Hills Bancorp by 112.9% in the fourth quarter. Deutsche Bank AG now owns 312,243 shares of the savings and loans company’s stock valued at $11,426,000 after acquiring an additional 165,567 shares during the period. Wells Fargo & Company MN lifted its holdings in Berkshire Hills Bancorp by 29.8% in the fourth quarter. Wells Fargo & Company MN now owns 178,649 shares of the savings and loans company’s stock valued at $6,538,000 after acquiring an additional 40,967 shares during the period. Dupont Capital Management Corp acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at approximately $931,000. Stifel Financial Corp lifted its holdings in Berkshire Hills Bancorp by 6.2% in the third quarter. Stifel Financial Corp now owns 82,855 shares of the savings and loans company’s stock valued at $3,211,000 after acquiring an additional 4,855 shares during the period. Finally, Pitcairn Co. acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at approximately $214,000. 68.82% of the stock is owned by institutional investors.

NYSE BHLB traded up $0.20 during trading on Friday, hitting $38.25. The company’s stock had a trading volume of 9,244 shares, compared to its average volume of 179,661. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.92. The company has a market cap of $1,739.92, a PE ratio of 16.62 and a beta of 0.65. Berkshire Hills Bancorp has a fifty-two week low of $32.85 and a fifty-two week high of $40.10.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.09% and a net margin of 11.37%. The business had revenue of $115.66 million during the quarter, compared to the consensus estimate of $115.50 million. sell-side analysts predict that Berkshire Hills Bancorp will post 2.72 earnings per share for the current fiscal year.

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About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company, which engages in the provision of community banking services. The firm’s loan portfolio comprises of the following: commercial real estate; commercial and industrial; residential mortgage; and consumer. It also offers savings and checking accounts, deposits, lending, mortgages loans, insurance, and wealth management products.

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