DA Davidson began coverage on shares of Berkshire Hills Bancorp (NYSE:BHLB) in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $36.00 target price on the savings and loans company’s stock.
Several other equities research analysts have also weighed in on BHLB. FIG Partners restated a market-perform rating on shares of Berkshire Hills Bancorp in a report on Wednesday, May 1st. ValuEngine lowered China Southern Airlines from a hold rating to a sell rating in a report on Monday, April 29th. Piper Jaffray Companies set a $360.00 target price on Ulta Beauty and gave the stock a buy rating in a report on Friday, May 31st. Sandler O’Neill lowered Berkshire Hills Bancorp from a buy rating to a hold rating and set a $33.00 target price for the company. in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded Investar from a hold rating to a buy rating and set a $27.00 target price for the company in a report on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Berkshire Hills Bancorp currently has a consensus rating of Hold and an average target price of $31.80.
BHLB opened at $31.60 on Thursday. The stock has a 50 day moving average of $30.39. Berkshire Hills Bancorp has a twelve month low of $25.77 and a twelve month high of $44.25. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 11.88 and a beta of 1.04.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Monday, April 29th. The savings and loans company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.02). Berkshire Hills Bancorp had a return on equity of 8.19% and a net margin of 17.74%. The company had revenue of $107.18 million during the quarter, compared to analyst estimates of $114.40 million. On average, research analysts expect that Berkshire Hills Bancorp will post 2.61 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Berkshire Hills Bancorp by 757.5% during the first quarter. Versant Capital Management Inc now owns 1,535 shares of the savings and loans company’s stock worth $41,000 after buying an additional 1,356 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth approximately $54,000. Peoples Financial Services CORP. acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth approximately $193,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth approximately $243,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Berkshire Hills Bancorp by 320.1% during the first quarter. BNP Paribas Arbitrage SA now owns 9,394 shares of the savings and loans company’s stock worth $256,000 after buying an additional 7,158 shares during the last quarter. Institutional investors own 77.38% of the company’s stock.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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