FIG Partners Analysts Reduce Earnings Estimates for Berkshire Hills Bancorp, Inc. (BHLB)
Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB) – Equities researchers at FIG Partners decreased their FY2016 EPS estimates for Berkshire Hills Bancorp in a research report issued to clients and investors on Wednesday. FIG Partners analyst D. Bishop now expects that the firm will earn $2.16 per share for the year, down from their previous estimate of $2.20.
BHLB has been the subject of several other reports. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Tuesday, July 5th. Jefferies Group reiterated a “hold” rating on shares of Berkshire Hills Bancorp in a report on Thursday, July 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $33.00 price objective on shares of Berkshire Hills Bancorp in a report on Wednesday, June 29th. Finally, Compass Point downgraded Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and cut their price target for the company from $29.00 to $24.00 in a research note on Tuesday, July 26th.
Berkshire Hills Bancorp (NASDAQ:BHLB) opened at 27.21 on Thursday. The company has a market cap of $832.90 million and a price-to-earnings ratio of 13.27. The company’s 50-day moving average is $27.41 and its 200 day moving average is $27.06. Berkshire Hills Bancorp has a 52-week low of $24.71 and a 52-week high of $30.69.
Berkshire Hills Bancorp (NASDAQ:BHLB) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54.
Several large investors have recently added to or reduced their stakes in BHLB. Menta Capital LLC purchased a new stake in Berkshire Hills Bancorp during the second quarter worth about $207,000. BlackRock Inc. boosted its position in Berkshire Hills Bancorp by 286.2% in the second quarter. BlackRock Inc. now owns 8,326 shares of the company’s stock worth $224,000 after buying an additional 6,170 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Berkshire Hills Bancorp during the second quarter worth $237,000. Morningstar Investment Services LLC bought a new position in Berkshire Hills Bancorp during the second quarter worth $380,000. Finally, Ingalls & Snyder LLC bought a new position in Berkshire Hills Bancorp during the second quarter worth $390,000.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc (Berkshire) is the holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Its product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
Receive News & Stock Ratings for Berkshire Hills Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp Inc. and related stocks with our FREE daily email newsletter.