Jefferies Group LLC reissued their hold rating on shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in a research report report published on Friday. The firm currently has a $38.00 price target on the savings and loans company’s stock.

Several other brokerages have also recently weighed in on BHLB. BidaskClub raised Berkshire Hills Bancorp from a sell rating to a hold rating in a research note on Wednesday, June 14th. Zacks Investment Research cut Berkshire Hills Bancorp from a buy rating to a hold rating in a research note on Monday, July 10th. FIG Partners raised Berkshire Hills Bancorp from a market perform rating to an outperform rating in a research note on Tuesday, May 23rd. Finally, Piper Jaffray Companies raised Berkshire Hills Bancorp from a neutral rating to an overweight rating and set a $39.50 price objective on the stock in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $37.50.

Shares of Berkshire Hills Bancorp (BHLB) opened at 34.90 on Friday. The company’s 50-day moving average price is $34.36 and its 200 day moving average price is $35.44. Berkshire Hills Bancorp has a one year low of $26.80 and a one year high of $38.65. The stock has a market capitalization of $1.39 billion, a PE ratio of 19.27 and a beta of 0.65.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. The company had revenue of $102.34 million for the quarter, compared to analysts’ expectations of $102.75 million. Analysts anticipate that Berkshire Hills Bancorp will post $2.29 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.84 annualized dividend and a yield of 2.41%. Berkshire Hills Bancorp’s payout ratio is currently 46.15%.

In related news, Director Richard L. Murphy acquired 1,000 shares of Berkshire Hills Bancorp stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $34.25 per share, with a total value of $34,250.00. Following the completion of the purchase, the director now directly owns 9,668 shares of the company’s stock, valued at approximately $331,129. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard M. Marotta sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the transaction, the executive vice president now owns 28,523 shares of the company’s stock, valued at approximately $950,386.36. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Large investors have recently made changes to their positions in the business. Two Sigma Securities LLC purchased a new position in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $317,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Berkshire Hills Bancorp by 0.4% during 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 period. Stieven Capital Advisors L.P. purchased a new position in shares of Berkshire Hills Bancorp during the second quarter valued at approximately $5,080,000. Irving Magee Investment Management purchased a new position in shares of Berkshire Hills Bancorp during the first quarter valued at approximately $2,769,000. Finally, Vanguard Group Inc. boosted its position in shares of Berkshire Hills Bancorp by 10.2% during the first quarter. Vanguard Group Inc. now owns 2,584,068 shares of the savings and loans company’s stock valued at $93,155,000 after buying an additional 239,543 shares during the period. Institutional investors and hedge funds own 74.09% of the company’s stock.

About Berkshire Hills Bancorp

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.

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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