FIG Partners Upgrades Berkshire Hills Bancorp (BHLB) to “Outperform”

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Berkshire Hills Bancorp (NYSE:BHLB) was upgraded by equities research analysts at FIG Partners from a “market-perform” rating to an “outperform” rating in a report released on Thursday. FIG Partners also issued estimates for Berkshire Hills Bancorp’s Q1 2019 earnings at $0.73 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $3.07 EPS.

A number of other equities research analysts also recently issued reports on BHLB. Compass Point upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating and set a $40.00 price target for the company in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Keefe, Bruyette & Woods downgraded Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price target for the company. in a research note on Sunday, July 22nd. Sandler O’Neill restated a “buy” rating and set a $47.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, July 20th. Finally, Cowen upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.30.

Berkshire Hills Bancorp stock opened at $35.14 on Thursday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 15.34 and a beta of 0.74. Berkshire Hills Bancorp has a 52-week low of $35.03 and a 52-week high of $44.25. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.25.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly 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 business had revenue of $118.62 million during the quarter, compared to the consensus estimate of $120.17 million. Berkshire Hills Bancorp had a return on equity of 8.37% and a net margin of 15.64%. On average, sell-side analysts expect that Berkshire Hills Bancorp will post 2.79 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of 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 valued at $14,181,000 after acquiring an additional 367,043 shares during the period. BlackRock Inc. grew its stake in shares of Berkshire Hills Bancorp by 104.6% during the 2nd quarter. BlackRock Inc. now owns 5,464,477 shares of the savings and loans company’s stock valued at $221,859,000 after acquiring an additional 2,793,131 shares during the period. Intrust Bank NA bought a new position in shares of Berkshire Hills Bancorp during the 2nd quarter valued at approximately $212,000. Aperio Group LLC grew its stake in shares of Berkshire Hills Bancorp by 7.4% during the 2nd quarter. Aperio Group LLC now owns 19,705 shares of the savings and loans company’s stock valued at $800,000 after acquiring an additional 1,354 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in shares of Berkshire Hills Bancorp during the 2nd quarter valued at approximately $1,558,000. Institutional investors own 76.30% of the company’s stock.

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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