Berkshire Hills Bancorp (NYSE:BHLB) Given New $34.50 Price Target at Keefe, Bruyette & Woods

Berkshire Hills Bancorp (NYSE:BHLB) had its price target lifted by stock analysts at Keefe, Bruyette & Woods from $32.00 to $34.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 20.38% from the stock’s current price.

Several other research analysts have also commented on BHLB. Seaport Res Ptn raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada dropped their target price on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 17th. Finally, Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.70.

Berkshire Hills Bancorp Stock Up 0.2 %

BHLB opened at $28.66 on Tuesday. Berkshire Hills Bancorp has a 1 year low of $20.50 and a 1 year high of $32.36. The firm has a 50 day moving average price of $29.43 and a 200 day moving average price of $26.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $1.23 billion, a PE ratio of 30.17 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The company had revenue of $125.70 million during the quarter, compared to analyst estimates of $119.61 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Berkshire Hills Bancorp will post 2.16 earnings per share for the current year.

Institutional Trading of Berkshire Hills Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in BHLB. Barclays PLC lifted its holdings in Berkshire Hills Bancorp by 105.0% during the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock worth $2,595,000 after buying an additional 49,356 shares during the last quarter. Jane Street Group LLC raised its position in shares of Berkshire Hills Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 36,058 shares of the savings and loans company’s stock valued at $971,000 after acquiring an additional 2,268 shares in the last quarter. Wellington Management Group LLP lifted its stake in Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock worth $44,815,000 after purchasing an additional 293,784 shares during the last quarter. State Street Corp boosted its holdings in Berkshire Hills Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after purchasing an additional 18,307 shares during the period. Finally, Systematic Financial Management LP increased its stake in Berkshire Hills Bancorp by 13.7% during the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after purchasing an additional 114,433 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.