Berkshire Hills Bancorp’s (BHLB) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research note published on Friday,Benzinga reports. The brokerage currently has a $31.00 target price on the savings and loans company’s stock.

A number of other research firms have also recently commented on BHLB. Keefe, Bruyette & Woods lifted their price objective on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research report on Tuesday, December 24th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Berkshire Hills Bancorp has an average rating of “Moderate Buy” and a consensus price target of $31.13.

Berkshire Hills Bancorp Stock Up 0.7 %

BHLB stock opened at $29.34 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50 day simple moving average is $29.06 and its 200-day simple moving average is $27.96. Berkshire Hills Bancorp has a 12 month low of $20.50 and a 12 month high of $32.36. The firm has a market capitalization of $1.26 billion, a PE ratio of 30.88 and a beta of 0.89.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. Equities analysts expect that Berkshire Hills Bancorp will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Berkshire Hills Bancorp

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in Berkshire Hills Bancorp by 2.3% in the second quarter. Sei Investments Co. now owns 99,677 shares of the savings and loans company’s stock valued at $2,273,000 after buying an additional 2,257 shares during the period. Millennium Management LLC increased its position in shares of Berkshire Hills Bancorp by 126.0% in the second quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock worth $4,186,000 after acquiring an additional 102,384 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Berkshire Hills Bancorp by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock valued at $520,000 after acquiring an additional 1,071 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Berkshire Hills Bancorp by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock valued at $134,000 after acquiring an additional 2,169 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Berkshire Hills Bancorp during the 3rd quarter worth $623,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.