Berkshire Hills Bancorp, Inc. (BHLB) Raised to Sell at BidaskClub

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

BHLB has been the topic of several other research reports. Piper Jaffray Companies upgraded Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 target price on the stock in a research report on Thursday, September 7th. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Tuesday, June 27th. Finally, FIG Partners upgraded Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Berkshire Hills Bancorp presently has an average rating of “Hold” and an average price target of $37.30.

Shares of Berkshire Hills Bancorp (NYSE:BHLB) opened at 34.45 on Wednesday. The company’s 50-day moving average price is $34.69 and its 200 day moving average price is $35.49. Berkshire Hills Bancorp has a 12-month low of $26.45 and a 12-month high of $38.65. The firm has a market capitalization of $1.38 billion, a PE ratio of 19.02 and a beta of 0.65.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $102.34 million for the quarter, compared to the consensus estimate of $102.75 million. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. On average, equities analysts forecast that Berkshire Hills Bancorp will post $2.29 earnings per share for the current year.

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In other news, insider Michael P. Daly sold 25,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $33.78, for a total value of $844,500.00. Following the transaction, the insider now owns 103,670 shares of the company’s stock, valued at $3,501,972.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard L. Murphy purchased 1,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average cost of $34.25 per share, for a total transaction of $34,250.00. Following the acquisition, the director now owns 9,668 shares of the company’s stock, valued at approximately $331,129. The disclosure for this purchase can be found here. Corporate insiders own 1.71% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in shares of Berkshire Hills Bancorp in the first quarter worth $317,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Berkshire Hills Bancorp by 0.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,500 shares of the savings and loans company’s stock worth $1,857,000 after purchasing an additional 200 shares during the period. Stieven Capital Advisors L.P. bought a new position in shares of Berkshire Hills Bancorp in the second quarter worth $5,080,000. Irving Magee Investment Management bought a new position in shares of Berkshire Hills Bancorp in the first quarter worth $2,769,000. Finally, Vanguard Group Inc. increased its holdings in shares of Berkshire Hills Bancorp by 10.2% in the first quarter. Vanguard Group Inc. now owns 2,584,068 shares of the savings and loans company’s stock worth $93,155,000 after purchasing an additional 239,543 shares during the period. 74.11% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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