Berkshire Hills Bancorp Inc. (BHLB) Rating Lowered to Neutral at Piper Jaffray Cos.
Berkshire Hills Bancorp Inc. (NYSE:BHLB) was downgraded by equities research analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday.
Separately, Compass Point lowered shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $29.00 to $24.00 in a research report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Berkshire Hills Bancorp currently has a consensus rating of “Hold” and an average target price of $29.67.
Berkshire Hills Bancorp (NYSE:BHLB) opened at 33.05 on Wednesday. Berkshire Hills Bancorp has a 1-year low of $24.71 and a 1-year high of $33.15. The stock has a 50 day moving average of $29.03 and a 200 day moving average of $27.55. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 15.81 and a beta of 0.52.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its position in Berkshire Hills Bancorp by 54.0% in the first quarter. BlackRock Group LTD now owns 28,998 shares of the company’s stock worth $780,000 after buying an additional 10,171 shares during the period. TIAA CREF Investment Management LLC raised its position in Berkshire Hills Bancorp by 10.1% in the first quarter. TIAA CREF Investment Management LLC now owns 155,814 shares of the company’s stock worth $4,190,000 after buying an additional 14,304 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in Berkshire Hills Bancorp by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 893,921 shares of the company’s stock worth $24,038,000 after buying an additional 21,031 shares during the period. Institutional investors own 73.20% of the company’s stock.
Berkshire Hills Bancorp Company Profile
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.
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