Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, June 27th. The brokerage presently has a $39.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s target price points to a potential upside of 5.83% from the stock’s previous close.
According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “
BHLB has been the topic of a number of other research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $42.00 price target on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price target on shares of Berkshire Hills Bancorp in a research note on Tuesday, April 4th. BidaskClub raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, FIG Partners raised Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $35.80.
Shares of Berkshire Hills Bancorp (NYSE BHLB) traded down 0.81% during mid-day trading on Tuesday, hitting $36.85. The stock had a trading volume of 144,945 shares. The stock has a market cap of $1.38 billion, a P/E ratio of 20.35 and a beta of 0.62. The firm has a 50 day moving average of $35.96 and a 200-day moving average of $35.72. Berkshire Hills Bancorp has a one year low of $25.90 and a one year high of $38.65.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $102.34 million for the quarter, compared to analysts’ expectations of $102.75 million. Berkshire Hills Bancorp had a return on equity of 7.31% and a net margin of 15.03%. Equities research analysts expect that Berkshire Hills Bancorp will post $2.28 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This report was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2017/07/28/berkshire-hills-bancorp-inc-nysebhlb-upgraded-by-zacks-investment-research-to-buy-updated-updated-updated.html.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHLB. Russell Investments Group Ltd. bought a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $1,918,000. State Street Corp raised its position in Berkshire Hills Bancorp by 29.8% in the fourth quarter. State Street Corp now owns 869,903 shares of the savings and loans company’s stock valued at $32,056,000 after buying an additional 199,795 shares during the period. Federated Investors Inc. PA raised its position in Berkshire Hills Bancorp by 20.6% in the fourth quarter. Federated Investors Inc. PA now owns 64,738 shares of the savings and loans company’s stock valued at $2,386,000 after buying an additional 11,037 shares during the period. Renaissance Technologies LLC raised its position in Berkshire Hills Bancorp by 36.0% in the fourth quarter. Renaissance Technologies LLC now owns 417,081 shares of the savings and loans company’s stock valued at $15,369,000 after buying an additional 110,300 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $556,000. 63.69% of the stock is currently owned by institutional investors.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
Get a free copy of the Zacks research report on Berkshire Hills Bancorp (BHLB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Berkshire Hills Bancorp Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Berkshire Hills Bancorp Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.