Berkshire Hills Bancorp (BHLB) Reaches New 1-Year Low at $35.07

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Berkshire Hills Bancorp, Inc. (NYSE:BHLB)’s share price hit a new 52-week low on Friday . The stock traded as low as $35.07 and last traded at $35.41, with a volume of 7252 shares traded. The stock had previously closed at $36.24.

Several brokerages recently weighed in on BHLB. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Keefe, Bruyette & Woods downgraded shares of Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price target on the stock. in a report on Sunday, July 22nd. Sandler O’Neill reiterated a “buy” rating and issued a $47.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, July 20th. Cowen upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Thursday, July 19th. Finally, Compass Point upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating and set a $40.00 price objective on the stock in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.30.

The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.73 billion, a P/E ratio of 15.51 and a beta of 0.74.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Wednesday, October 17th. The savings and loans company reported $0.70 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. Berkshire Hills Bancorp had a return on equity of 8.37% and a net margin of 15.64%. The business had revenue of $118.62 million for the quarter, compared to analyst estimates of $120.17 million. Analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Thursday, November 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.50%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 38.43%.

Several large investors have recently made changes to their positions in BHLB. Wells Fargo & Company MN lifted its position in shares of Berkshire Hills Bancorp by 10.7% during the 1st quarter. Wells Fargo & Company MN now owns 197,769 shares of the savings and loans company’s stock valued at $7,506,000 after buying an additional 19,120 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Berkshire Hills Bancorp by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 186,827 shares of the savings and loans company’s stock valued at $7,091,000 after buying an additional 5,740 shares in the last quarter. Northern Trust Corp lifted its position in shares of Berkshire Hills Bancorp by 0.4% during the 1st quarter. Northern Trust Corp now owns 739,090 shares of the savings and loans company’s stock valued at $28,048,000 after buying an additional 3,207 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Berkshire Hills Bancorp by 5.4% during the 1st quarter. California Public Employees Retirement System now owns 117,518 shares of the savings and loans company’s stock valued at $4,460,000 after buying an additional 6,026 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Berkshire Hills Bancorp by 7.8% during the 1st quarter. Russell Investments Group Ltd. now owns 49,421 shares of the savings and loans company’s stock valued at $1,876,000 after buying an additional 3,567 shares in the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Berkshire Hills Bancorp Company Profile (NYSE:BHLB)

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

See Also: Asset Allocation

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