Berkshire Hills Bancorp (NYSE:BHLB) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Berkshire Hills Bancorp (NYSE:BHLBFree Report) from a sell rating to a hold rating in a research note released on Monday.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB opened at $21.13 on Monday. The firm has a market cap of $914.72 million, a PE ratio of 42.26 and a beta of 0.89. The stock’s fifty day moving average price is $22.07 and its two-hundred day moving average price is $22.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. Berkshire Hills Bancorp has a 1 year low of $18.31 and a 1 year high of $25.79.

Berkshire Hills Bancorp (NYSE:BHLBGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. The company had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. During the same period in the previous year, the business earned $0.63 earnings per share. On average, equities research analysts forecast that Berkshire Hills Bancorp will post 2.06 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, June 20th. Berkshire Hills Bancorp’s payout ratio is 144.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. LSV Asset Management grew its holdings in shares of Berkshire Hills Bancorp by 116.2% during the 1st quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock worth $15,606,000 after acquiring an additional 365,952 shares during the period. Norges Bank purchased a new stake in shares of Berkshire Hills Bancorp in the 4th quarter worth approximately $7,963,000. Wellington Management Group LLP grew its stake in shares of Berkshire Hills Bancorp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,382,777 shares of the savings and loans company’s stock worth $27,725,000 after buying an additional 201,948 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Berkshire Hills Bancorp by 272.6% in the 4th quarter. Hsbc Holdings PLC now owns 83,050 shares of the savings and loans company’s stock worth $2,074,000 after buying an additional 60,762 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Berkshire Hills Bancorp by 15.4% in the 3rd quarter. American Century Companies Inc. now owns 397,579 shares of the savings and loans company’s stock worth $7,971,000 after buying an additional 53,162 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

About Berkshire Hills Bancorp

(Get Free Report)

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.

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