Berkshire Hills Bancorp (BHLB) Downgraded to “Sell” at Compass Point

Compass Point cut shares of Berkshire Hills Bancorp (NYSE:BHLB) from a neutral rating to a sell rating in a report released on Tuesday, Marketbeat.com reports. The firm currently has $38.00 price objective on the savings and loans company’s stock.

Other analysts also recently issued reports about the company. TheStreet downgraded Berkshire Hills Bancorp from a b- rating to a c+ rating in a report on Friday, January 4th. FIG Partners downgraded Berkshire Hills Bancorp from an outperform rating to a market-perform rating in a report on Wednesday, October 31st. Zacks Investment Research downgraded Berkshire Hills Bancorp from a hold rating to a sell rating in a report on Monday, December 31st. Finally, ValuEngine downgraded Berkshire Hills Bancorp from a hold rating to a sell rating in a report on Friday, October 19th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $40.50.

NYSE BHLB traded down $0.02 on Tuesday, reaching $27.73. The company had a trading volume of 864 shares, compared to its average volume of 298,118. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.07 and a beta of 1.16. Berkshire Hills Bancorp has a fifty-two week low of $25.77 and a fifty-two week high of $44.25. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.24.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Wednesday, October 17th. The savings and loans company reported $0.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.70. The business had revenue of $118.62 million during the quarter, compared to the consensus estimate of $120.17 million. Berkshire Hills Bancorp had a return on equity of 8.33% and a net margin of 15.64%. Research analysts expect that Berkshire Hills Bancorp will post 2.74 earnings per share for the current fiscal year.

In other Berkshire Hills Bancorp news, insider Richard M. Marotta purchased 1,860 shares of the firm’s stock in a transaction on Thursday, December 20th. The stock was purchased at an average cost of $26.97 per share, for a total transaction of $50,164.20. Following the acquisition, the insider now owns 37,865 shares in the company, valued at approximately $1,021,219.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Brunelle purchased 4,000 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were acquired at an average price of $28.36 per share, with a total value of $113,440.00. Following the completion of the acquisition, the director now owns 63 shares in the company, valued at approximately $1,786.68. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 8,475 shares of company stock valued at $238,183. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its stake in shares of Berkshire Hills Bancorp by 7.9% in the 3rd quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the savings and loans company’s stock valued at $724,000 after buying an additional 1,300 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Berkshire Hills Bancorp by 11.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,451 shares of the savings and loans company’s stock valued at $547,000 after buying an additional 1,421 shares during the period. Federated Investors Inc. PA grew its stake in shares of Berkshire Hills Bancorp by 3.8% in the 3rd quarter. Federated Investors Inc. PA now owns 38,967 shares of the savings and loans company’s stock valued at $1,586,000 after buying an additional 1,426 shares during the period. Texas Permanent School Fund grew its stake in shares of Berkshire Hills Bancorp by 7.1% in the 3rd quarter. Texas Permanent School Fund now owns 25,437 shares of the savings and loans company’s stock valued at $1,035,000 after buying an additional 1,690 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Berkshire Hills Bancorp by 14.0% in the 3rd quarter. First Trust Advisors LP now owns 14,645 shares of the savings and loans company’s stock valued at $596,000 after buying an additional 1,803 shares during the period. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Berkshire Hills Bancorp Company Profile

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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Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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