Berkshire Hills Bancorp (NYSE:BHLB) Price Target Raised to $32.00 at Keefe, Bruyette & Woods

Berkshire Hills Bancorp (NYSE:BHLB) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $29.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 5.26% from the stock’s current price.

Berkshire Hills Bancorp Price Performance

Berkshire Hills Bancorp stock opened at $30.40 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. Berkshire Hills Bancorp has a 52-week low of $20.50 and a 52-week high of $32.36. The firm has a market cap of $1.31 billion, a PE ratio of 32.00 and a beta of 0.88. The company’s 50 day moving average is $28.66 and its two-hundred day moving average is $26.08.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 EPS 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 business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $119.61 million. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, research analysts expect that Berkshire Hills Bancorp will post 2.16 EPS for the current fiscal year.

Institutional Trading of Berkshire Hills Bancorp

Institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $34,000. nVerses Capital LLC lifted its position in Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Berkshire Hills Bancorp in the second quarter valued at $104,000. Northwestern Mutual Wealth Management Co. grew 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 last quarter. Finally, Joel Isaacson & Co. LLC acquired a new stake in shares of Berkshire Hills Bancorp during the third quarter worth about $211,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.