Berkshire Hills Bancorp, Inc. (BHLB) Rating Lowered to Neutral at Piper Jaffray Cos.
Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB) was downgraded by equities research analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday.
BHLB has been the topic of several other reports. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “strong sell” rating to a “hold” rating and set a $33.00 price objective on the stock in a research report on Thursday, October 27th. Jefferies Group reissued a “hold” rating on shares of Berkshire Hills Bancorp in a research report on Monday, August 1st. Finally, Compass Point raised shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Tuesday, October 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Berkshire Hills Bancorp currently has an average rating of “Hold” and an average price target of $30.00.
Berkshire Hills Bancorp (NASDAQ:BHLB) opened at 33.05 on Wednesday. Berkshire Hills Bancorp has a 52 week low of $24.71 and a 52 week high of $33.15. The stock has a market cap of $1.01 billion and a PE ratio of 15.81. The company’s 50-day moving average is $29.03 and its 200 day moving average is $27.55.
Berkshire Hills Bancorp (NASDAQ:BHLB) last announced its quarterly earnings data on Monday, October 24th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.03. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $58.75 million. On average, analysts expect that Berkshire Hills Bancorp will post $2.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, November 8th.
In related news, Director Paul T. Bossidy bought 1,000 shares of the stock in a transaction on Friday, October 28th. The shares were acquired at an average price of $29.30 per share, for a total transaction of $29,300.00. Following the purchase, the director now owns 5,404 shares of the company’s stock, valued at $158,337.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Williar Dunlaevy sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $30.41, for a total transaction of $912,300.00. Following the transaction, the director now owns 89,003 shares in the company, valued at approximately $2,706,581.23. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of BHLB. SG Americas Securities LLC bought a new position in Berkshire Hills Bancorp during the third quarter valued at about $122,000. Acrospire Investment Management LLC boosted its position in Berkshire Hills Bancorp by 95.7% in the third quarter. Acrospire Investment Management LLC now owns 4,500 shares of the company’s stock valued at $125,000 after buying an additional 2,200 shares in the last quarter. Sit Investment Associates Inc. boosted its position in Berkshire Hills Bancorp by 31.2% in the third quarter. Sit Investment Associates Inc. now owns 4,525 shares of the company’s stock valued at $125,000 after buying an additional 1,075 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Berkshire Hills Bancorp during the third quarter valued at about $157,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Berkshire Hills Bancorp during the third quarter valued at about $209,000.
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.
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