Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Free Report) have been given an average recommendation of “Hold” by the four ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $29.00.
A number of equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Berkshire Hills Bancorp from a “c” rating to a “b-” rating in a report on Thursday, July 20th. StockNews.com raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Friday.
Read Our Latest Research Report on BHLB
Berkshire Hills Bancorp Trading Up 1.6 %
Berkshire Hills Bancorp (NYSE:BHLB – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The savings and loans company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Berkshire Hills Bancorp had a net margin of 17.72% and a return on equity of 11.14%. The business had revenue of $111.82 million during the quarter, compared to analyst estimates of $112.39 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Analysts expect that Berkshire Hills Bancorp will post 2.13 earnings per share for the current year.
Berkshire Hills Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.72 annualized dividend and a yield of 3.40%. Berkshire Hills Bancorp’s payout ratio is 31.44%.
Insider Buying and Selling at Berkshire Hills Bancorp
In related news, CEO Nitin J. Mhatre acquired 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was bought at an average price of $22.29 per share, for a total transaction of $33,435.00. Following the acquisition, the chief executive officer now directly owns 57,030 shares of the company’s stock, valued at approximately $1,271,198.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company insiders.
Institutional Trading of Berkshire Hills Bancorp
Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Berkshire Hills Bancorp by 14.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,120 shares of the savings and loans company’s stock worth $85,000 after buying an additional 514 shares in the last quarter. FMR LLC lifted its position in shares of Berkshire Hills Bancorp by 3.8% during the second quarter. FMR LLC now owns 13,959 shares of the savings and loans company’s stock worth $346,000 after purchasing an additional 515 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in Berkshire Hills Bancorp by 10.6% in the first quarter. Belpointe Asset Management LLC now owns 5,460 shares of the savings and loans company’s stock valued at $137,000 after acquiring an additional 525 shares in the last quarter. Cerity Partners LLC acquired a new stake in Berkshire Hills Bancorp in the first quarter valued at approximately $552,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Berkshire Hills Bancorp by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,831 shares of the savings and loans company’s stock valued at $308,000 after purchasing an additional 804 shares during the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, interest-bearing checking, 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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