Berkshire Hills Bancorp (BHLB) Downgraded by ValuEngine to “Sell”

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Berkshire Hills Bancorp (NYSE:BHLB) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

Other research analysts have also issued reports about the company. Sandler O’Neill reiterated a “buy” rating and issued a $47.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, July 20th. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Keefe, Bruyette & Woods lowered Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a report on Sunday, July 22nd. FIG Partners lowered Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Finally, Cowen upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, six have given 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 target price of $41.30.

NYSE:BHLB traded down $1.10 during midday trading on Friday, reaching $35.14. The company had a trading volume of 385,700 shares, compared to its average volume of 258,918. The firm has a market cap of $1.73 billion, a PE ratio of 15.34 and a beta of 0.74. Berkshire Hills Bancorp has a 12-month low of $35.03 and a 12-month high of $44.25. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.25.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in BHLB. Wells Fargo & Company MN lifted its holdings in 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 worth $7,506,000 after buying an additional 19,120 shares during the last quarter. California Public Employees Retirement System lifted its holdings in 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 worth $4,460,000 after buying an additional 6,026 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in 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 worth $1,876,000 after buying an additional 3,567 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Berkshire Hills Bancorp by 5,532.8% during the 1st quarter. Principal Financial Group Inc. now owns 373,677 shares of the savings and loans company’s stock worth $14,181,000 after buying an additional 367,043 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Berkshire Hills Bancorp by 61.4% during the 1st quarter. UBS Group AG now owns 12,900 shares of the savings and loans company’s stock worth $490,000 after buying an additional 4,908 shares during the last quarter. 76.30% of the stock is owned by institutional investors.

About Berkshire Hills Bancorp

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.

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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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