Zacks Investment Research lowered shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) from a buy rating to a hold rating in a research report released on Monday, July 10th.

According to Zacks, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans. “

Several other brokerages have also recently issued reports on BHLB. FIG Partners upgraded shares of Berkshire Hills Bancorp from a market perform rating to an outperform rating in a report on Tuesday, May 23rd. BidaskClub cut shares of Berkshire Hills Bancorp from a hold rating to a sell rating in a report on Saturday, June 24th. Jefferies Group LLC restated a hold rating and issued a $38.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, May 5th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $42.00 price target on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $35.80.

Berkshire Hills Bancorp (NYSE BHLB) traded up 1.30% during midday trading on Monday, hitting $35.80. The company had a trading volume of 122,213 shares. Berkshire Hills Bancorp has a 52 week low of $26.45 and a 52 week high of $38.65. The firm’s 50 day moving average is $35.95 and its 200-day moving average is $35.77. The firm has a market capitalization of $1.34 billion, a P/E ratio of 19.77 and a beta of 0.63.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 7.31%. The company had revenue of $102.34 million for the quarter, compared to analysts’ expectations of $102.75 million. On average, equities research analysts expect that Berkshire Hills Bancorp will post $2.28 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.35%. Berkshire Hills Bancorp’s payout ratio is 46.15%.

Several hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Berkshire Hills Bancorp by 0.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,500 shares of the savings and loans company’s stock valued at $1,857,000 after buying an additional 200 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Berkshire Hills Bancorp by 0.5% in the first quarter. Russell Investments Group Ltd. now owns 52,397 shares of the savings and loans company’s stock worth $1,889,000 after buying an additional 279 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Berkshire Hills Bancorp by 1.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,135 shares of the savings and loans company’s stock worth $816,000 after buying an additional 329 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Berkshire Hills Bancorp by 0.9% in the second quarter. Bessemer Group Inc. now owns 49,732 shares of the savings and loans company’s stock worth $1,748,000 after buying an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 62.53% of the company’s stock.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc (Berkshire) is a 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. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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