Berkshire Hills Bancorp (NYSE:BHLB) Hits New 1-Year Low at $23.04

Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Rating) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $23.04 and last traded at $24.00, with a volume of 59631 shares traded. The stock had previously closed at $25.57.

Analyst Ratings Changes

Separately, Hovde Group increased their target price on Berkshire Hills Bancorp to $34.00 in a report on Monday, December 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.25.

Berkshire Hills Bancorp Price Performance

The stock has a fifty day moving average of $29.50 and a two-hundred day moving average of $29.29. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.41 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13.

Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The savings and loans company reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. Berkshire Hills Bancorp had a return on equity of 10.04% and a net margin of 20.28%. The firm had revenue of $137.04 million during the quarter, compared to analysts’ expectations of $111.35 million. During the same period last year, the firm posted $0.42 EPS. As a group, equities research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.45 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Investors of record on Thursday, February 16th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, February 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.86%. Berkshire Hills Bancorp’s dividend payout ratio is 35.47%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TFO TDC LLC acquired a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at $287,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $27,000. Lazard Asset Management LLC acquired a new stake in shares of Berkshire Hills Bancorp in the 1st quarter valued at $35,000. Point72 Hong Kong Ltd acquired a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $38,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at $119,000. 80.73% of the stock is owned by institutional investors and hedge funds.

About Berkshire Hills Bancorp

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Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies.