Brokerages Set Berkshire Hills Bancorp, Inc. (BHLB) Target Price at $37.00

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $37.00.

Several research firms have recently weighed in on BHLB. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, May 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 price target on shares of Berkshire Hills Bancorp in a report on Wednesday, May 3rd. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, FIG Partners raised shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 23rd.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in Berkshire Hills Bancorp during the first quarter valued at about $101,000. New York State Teachers Retirement System raised its stake in Berkshire Hills Bancorp by 7.4% in the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock valued at $105,000 after buying an additional 200 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Berkshire Hills Bancorp during the first quarter valued at about $109,000. TFS Capital LLC raised its stake in Berkshire Hills Bancorp by 11.5% in the first quarter. TFS Capital LLC now owns 7,714 shares of the savings and loans company’s stock valued at $278,000 after buying an additional 797 shares during the last quarter. Finally, Bogle Investment Management L P DE acquired a new stake in Berkshire Hills Bancorp during the first quarter valued at about $284,000. Institutional investors own 63.90% of the company’s stock.

Berkshire Hills Bancorp (NYSE:BHLB) traded down 0.14% during trading on Friday, reaching $35.70. The company’s stock had a trading volume of 97,103 shares. Berkshire Hills Bancorp has a 12 month low of $25.90 and a 12 month high of $38.65. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 19.83 and a beta of 0.62. The stock’s 50 day moving average is $35.96 and its 200 day moving average is $35.78.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Monday, April 24th. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Berkshire Hills Bancorp had a net margin of 15.39% and a return on equity of 7.05%. The business had revenue of $101.64 million for the quarter, compared to analysts’ expectations of $95.90 million. On average, equities analysts expect that Berkshire Hills Bancorp will post $2.25 EPS for the current fiscal year.

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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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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