Brokerages Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Target Price at $28.20

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have earned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $28.20.

Separately, Keefe, Bruyette & Woods increased their price target on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Berkshire Hills Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company’s stock worth $60,024,000 after buying an additional 36,521 shares during the last quarter. State Street Corp raised its position in shares of Berkshire Hills Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock valued at $57,455,000 after acquiring an additional 18,307 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Berkshire Hills Bancorp by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock valued at $44,815,000 after purchasing an additional 293,784 shares during the period. Systematic Financial Management LP boosted its position in shares of 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 last quarter. Finally, American Century Companies Inc. grew its stake in shares of Berkshire Hills Bancorp by 6.5% during the second quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company’s stock worth $14,232,000 after purchasing an additional 38,327 shares during the period. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Up 1.2 %

Shares of NYSE:BHLB opened at $30.75 on Wednesday. The company has a market capitalization of $1.32 billion, a PE ratio of 32.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The company’s fifty day moving average is $28.74 and its 200-day moving average is $26.18. Berkshire Hills Bancorp has a 52 week low of $20.50 and a 52 week high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. Equities research analysts predict that Berkshire Hills Bancorp will post 2.16 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%. Berkshire Hills Bancorp’s payout ratio is 75.79%.

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.