Zacks Investment Research cut shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) from a buy rating to a hold rating in a report published on Tuesday morning.

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. “

BHLB has been the subject of a number of other reports. BidaskClub cut Berkshire Hills Bancorp from a sell rating to a strong sell rating in a report on Tuesday, August 8th. Jefferies Group LLC reissued a hold rating and set a $38.00 price objective on shares of Berkshire Hills Bancorp in a report on Monday, May 15th. Piper Jaffray Companies raised Berkshire Hills Bancorp from a neutral rating to an overweight rating and set a $39.50 price objective for the company in a report on Thursday, September 7th. Finally, FIG Partners raised Berkshire Hills Bancorp from a market perform rating to an outperform rating in a report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Berkshire Hills Bancorp has a consensus rating of Hold and a consensus target price of $37.30.

Berkshire Hills Bancorp (NYSE:BHLB) opened at 34.40 on Tuesday. Berkshire Hills Bancorp has a 52-week low of $26.80 and a 52-week high of $38.65. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 19.00 and a beta of 0.65. The stock’s 50 day moving average is $34.42 and its 200 day moving average is $35.45.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $102.34 million during the quarter, compared to analysts’ expectations of $102.75 million. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. On average, analysts predict that Berkshire Hills Bancorp will post $2.29 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.44%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 46.15%.

In other news, insider Michael P. Daly sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $33.78, for a total value of $844,500.00. Following the completion of the sale, the insider now directly owns 103,670 shares in the company, valued at $3,501,972.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard L. Murphy bought 1,000 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of $34.25 per share, with a total value of $34,250.00. Following the completion of the purchase, the director now owns 9,668 shares of the company’s stock, valued at approximately $331,129. The disclosure for this purchase can be found here. Company insiders own 2.82% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Berkshire Hills Bancorp by 20.9% in the second quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock valued at $109,814,000 after buying an additional 540,080 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Berkshire Hills Bancorp by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,023,639 shares of the savings and loans company’s stock valued at $106,281,000 after buying an additional 202,898 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Berkshire Hills Bancorp by 29.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,137,717 shares of the savings and loans company’s stock valued at $39,991,000 after buying an additional 255,429 shares in the last quarter. State Street Corp increased its stake in shares of Berkshire Hills Bancorp by 3.8% in the second quarter. State Street Corp now owns 1,096,485 shares of the savings and loans company’s stock valued at $38,546,000 after buying an additional 39,632 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Berkshire Hills Bancorp by 2.8% in the second quarter. LSV Asset Management now owns 1,053,520 shares of the savings and loans company’s stock valued at $37,031,000 after buying an additional 29,100 shares in the last quarter. Institutional investors own 74.11% 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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