Berkshire Hills Bancorp (NYSE:BHLB) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp (NYSE:BHLB) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.56 EPS and FY2025 earnings at $2.48 EPS.

A number of other research firms also recently commented on BHLB. Royal Bank of Canada dropped their price objective on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.20.

Berkshire Hills Bancorp Stock Performance

Berkshire Hills Bancorp stock opened at $28.12 on Monday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.60 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day moving average of $29.29 and a two-hundred day moving average of $26.57. Berkshire Hills Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The company had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Berkshire Hills Bancorp will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.56%. Berkshire Hills Bancorp’s dividend payout ratio is currently 75.79%.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at approximately $34,000. nVerses Capital LLC increased its stake in Berkshire Hills Bancorp by 233.3% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after purchasing an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Berkshire Hills Bancorp during the second quarter worth $104,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Berkshire Hills Bancorp by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after purchasing an additional 2,169 shares during the period. Finally, Joel Isaacson & Co. LLC bought a new position in shares of Berkshire Hills Bancorp in the 3rd quarter worth about $211,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Company Profile

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.