Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Rating) received an average rating of “Hold” from the six brokerages that currently cover the business, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned the company a buy recommendation. The 12-month average price target among analysts who have updated their coverage of the stock in the past year is $29.00.
BHLB has been the subject of several research reports. Piper Sandler downgraded Berkshire Hills Bancorp from a “neutral” rating to an “underweight” rating and reduced its target price for the stock from $31.00 to $29.00 in a Friday 14 research note october. Hovde Group launched coverage on Berkshire Hills Bancorp in a research note on Tuesday, September 13. They set an “outperform” rating and a price target of $33.00 for the company. StockNews.com launched coverage on Berkshire Hills Bancorp in a research note on Wednesday, October 12. They set a “hold” rating for the company. Finally, Janney Montgomery Scott upgraded Berkshire Hills Bancorp from a “neutral” rating to a “buy” rating and set a price target of $31.00 for the company in a Thursday, July 21 research note.
Berkshire Hills Bancorp Institutional Trading
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Advisor Partners LLC bought a new stake in Berkshire Hills Bancorp in the first quarter worth $206,000. The Swiss National Bank increased its stake in Berkshire Hills Bancorp by 6.8% in the first quarter. The Swiss National Bank now owns 115,000 shares in the savings and loan company worth $3,332,000 after acquiring an additional 7,300 shares during the period. Nisa Investment Advisors LLC bought a new stake in Berkshire Hills Bancorp in the first quarter worth $87,000. Qube Research & Technologies Ltd increased its stake in Berkshire Hills Bancorp by 67.6% in the first quarter. Qube Research & Technologies Ltd now owns 26,164 shares in the savings and loan company worth $758,000 after acquiring an additional 10,555 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Berkshire Hills Bancorp by 6.3% in the first quarter. Teacher Retirement System of Texas now owns 9,995 shares of the savings and loan company worth $290,000 after acquiring 595 additional shares during the period. Hedge funds and other institutional investors own 80.61% of the company’s shares.
Berkshire Hills Bancorp shares down 0.9%
BHLB shares opened at $28.98 on Wednesday. The company has a market capitalization of $1.32 billion, a P/E ratio of 16.47 and a beta of 1.00. The stock has a 50-day simple moving average of $28.48 and a 200-day simple moving average of $27.07. The company has a debt ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. Berkshire Hills Bancorp has a 1-year low of $23.62 and a 1-year high of $31.78.
About Berkshire Hills Bancorp
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Berkshire Hills Bancorp, Inc operates as a banking holding company for Berkshire Bank which provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, term deposit certificates and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer and residential loans.
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