Berkshire Hills Bancorp (NYSE:BHLB) Research Coverage Started at DA Davidson

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DA Davidson began coverage on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $36.00 price objective on the savings and loans company’s stock.

A number of other research analysts have also recently issued reports on BHLB. FIG Partners reaffirmed a market-perform rating on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 1st. Zacks Investment Research raised Investar from a hold rating to a buy rating and set a $27.00 price objective on the stock in a research note on Tuesday, June 4th. TheStreet raised WillScot from a d- rating to a c- rating in a research note on Wednesday, May 8th. Sandler O’Neill cut Berkshire Hills Bancorp from a buy rating to a hold rating and set a $33.00 price objective on the stock. in a research note on Tuesday, July 2nd. Finally, ValuEngine cut China Southern Airlines from a hold rating to a sell rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Berkshire Hills Bancorp presently has a consensus rating of Hold and a consensus target price of $31.80.

BHLB opened at $31.60 on Thursday. The company has a market capitalization of $1.44 billion, a PE ratio of 11.88 and a beta of 1.04. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. Berkshire Hills Bancorp has a 52 week low of $25.77 and a 52 week high of $44.25. The company has a fifty day moving average price of $30.39.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Monday, April 29th. The savings and loans company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The firm had revenue of $107.18 million during the quarter, compared to the consensus estimate of $114.40 million. Berkshire Hills Bancorp had a net margin of 17.74% and a return on equity of 8.19%. As a group, equities research analysts predict that Berkshire Hills Bancorp will post 2.61 EPS for the current year.

Large investors have recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in Berkshire Hills Bancorp by 3.7% in the 4th quarter. California Public Employees Retirement System now owns 123,565 shares of the savings and loans company’s stock worth $3,333,000 after purchasing an additional 4,430 shares in the last quarter. BlackRock Inc. increased its stake in Berkshire Hills Bancorp by 4.0% in the 4th quarter. BlackRock Inc. now owns 6,180,539 shares of the savings and loans company’s stock worth $166,688,000 after purchasing an additional 237,601 shares in the last quarter. Texas Permanent School Fund increased its stake in Berkshire Hills Bancorp by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 26,451 shares of the savings and loans company’s stock worth $713,000 after purchasing an additional 1,014 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Berkshire Hills Bancorp by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,951 shares of the savings and loans company’s stock worth $1,131,000 after purchasing an additional 540 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Berkshire Hills Bancorp by 326.3% in the 4th quarter. Citigroup Inc. now owns 21,810 shares of the savings and loans company’s stock worth $588,000 after purchasing an additional 16,694 shares in the last quarter. 77.38% of the stock is currently owned by hedge funds and other 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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