Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Receives $31.13 Average PT from Brokerages

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Three 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 1 year target price among analysts that have issued a report on the stock in the last year is $31.13.

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of 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 shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada cut their price target on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday, December 17th.

Berkshire Hills Bancorp Stock Down 0.9 %

BHLB opened at $28.56 on Thursday. The company has a 50 day moving average of $29.13 and a 200 day moving average of $27.91. The company has a market cap of $1.23 billion, a PE ratio of 30.06 and a beta of 0.89. Berkshire Hills Bancorp has a 12 month low of $20.50 and a 12 month high of $32.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, November 14th. Berkshire Hills Bancorp’s payout ratio is 75.79%.

Institutional Trading of Berkshire Hills Bancorp

A number of hedge funds have recently made changes to their positions in BHLB. Wellington Management Group LLP lifted its holdings in shares of Berkshire Hills Bancorp by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock worth $44,815,000 after acquiring an additional 293,784 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth $6,672,000. Systematic Financial Management LP raised its position in Berkshire Hills Bancorp by 13.7% in the 3rd quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock worth $25,654,000 after purchasing an additional 114,433 shares during the period. Millennium Management LLC lifted its stake in Berkshire Hills Bancorp by 126.0% in the second quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock worth $4,186,000 after purchasing an additional 102,384 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Berkshire Hills Bancorp by 28.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company’s stock worth $9,175,000 after purchasing an additional 75,476 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Company Profile

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.