Berkshire Hills Bancorp (NYSE:BHLB) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a report released on Friday,Benzinga reports. Royal Bank of Canada currently has a $31.00 price target on the savings and loans company’s stock.

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

Berkshire Hills Bancorp Stock Performance

Shares of Berkshire Hills Bancorp stock opened at $29.34 on Friday. The firm has a market cap of $1.26 billion, a PE ratio of 30.88 and a beta of 0.89. Berkshire Hills Bancorp has a 1 year low of $20.50 and a 1 year high of $32.36. The firm’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $27.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. Equities analysts forecast that Berkshire Hills Bancorp will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Berkshire Hills Bancorp

Several large investors have recently added to or reduced their stakes in BHLB. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter worth approximately $34,000. nVerses Capital LLC lifted its position in Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after purchasing an additional 1,400 shares during the period. KBC Group NV boosted its stake in Berkshire Hills Bancorp by 57.8% during the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock valued at $82,000 after purchasing an additional 1,051 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Berkshire Hills Bancorp by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 2,169 shares during the period. Finally, Plimoth Trust Co. LLC bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter worth $204,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.