Keefe, Bruyette & Woods Issues Positive Forecast for Berkshire Hills Bancorp (NYSE:BHLB) Stock Price

Berkshire Hills Bancorp (NYSE:BHLB) had its price objective upped by stock analysts at Keefe, Bruyette & Woods from $32.00 to $34.50 in a report issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 20.63% from the company’s current price.

A number of other equities research analysts have also recently commented on BHLB. Royal Bank of Canada decreased their price objective on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a research note on Tuesday, December 17th. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

Berkshire Hills Bancorp Stock Performance

Berkshire Hills Bancorp stock opened at $28.60 on Tuesday. Berkshire Hills Bancorp has a 1 year low of $20.50 and a 1 year high of $32.36. The company’s 50-day moving average is $29.41 and its two-hundred day moving average is $26.76. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.23 billion, a PE ratio of 30.11 and a beta of 0.88.

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

Hedge Funds Weigh In On Berkshire Hills Bancorp

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Berkshire Hills Bancorp during the 3rd quarter worth approximately $34,000. nVerses Capital LLC increased its position in shares of 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 worth $54,000 after acquiring an additional 1,400 shares in the last quarter. Meeder Asset Management Inc. bought 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 acquiring an additional 2,169 shares during the period. Finally, Joel Isaacson & Co. LLC bought a new stake in Berkshire Hills Bancorp in the 3rd quarter valued at $211,000. 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.