Brokerages Set Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Price Target at $31.13

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $31.13.

A number of equities analysts have recently issued reports on BHLB shares. Keefe, Bruyette & Woods increased their price objective on shares of 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. Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada cut their price objective on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Tuesday, December 17th. Finally, Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Berkshire Hills Bancorp in the 3rd quarter valued at about $34,000. nVerses Capital LLC increased its stake in shares of Berkshire Hills Bancorp by 233.3% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after purchasing an additional 1,400 shares during the last quarter. KBC Group NV increased its stake in shares of Berkshire Hills Bancorp by 57.8% during the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock worth $82,000 after purchasing an additional 1,051 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $134,000 after purchasing an additional 2,169 shares during the last quarter. Finally, Plimoth Trust Co. LLC purchased a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB opened at $28.56 on Thursday. The stock has a market capitalization of $1.23 billion, a P/E ratio of 30.06 and a beta of 0.89. The firm’s fifty day simple moving average is $29.13 and its two-hundred day simple moving average is $27.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Berkshire Hills Bancorp has a 12 month low of $20.50 and a 12 month high of $32.36.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.18 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.52%. Berkshire Hills Bancorp’s dividend payout ratio is presently 75.79%.

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.