Berkshire Hills Bancorp (NYSE:BHLB) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.
Other analysts have also issued reports about the company. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. FIG Partners restated a “market-perform” rating on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 1st. ValuEngine upgraded Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, April 29th. Finally, Compass Point lowered Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 target price on the stock. in a research note on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $37.00.
Shares of BHLB traded up $0.03 during mid-day trading on Wednesday, hitting $30.23. The stock had a trading volume of 8,196 shares, compared to its average volume of 266,824. The firm has a market cap of $1.36 billion, a PE ratio of 11.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. Berkshire Hills Bancorp has a 52 week low of $25.77 and a 52 week high of $44.25.
In related news, EVP Wm Gordon Prescott purchased 1,050 shares of Berkshire Hills Bancorp stock in a transaction dated Friday, February 15th. The stock was bought at an average cost of $29.17 per share, for a total transaction of $30,628.50. Following the completion of the transaction, the executive vice president now owns 5,620 shares in the company, valued at $163,935.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick J. Sheehan sold 9,938 shares of Berkshire Hills Bancorp stock in a transaction on Monday, March 11th. The shares were sold at an average price of $30.50, for a total value of $303,109.00. Following the completion of the transaction, the director now owns 2,226 shares of the company’s stock, valued at $67,893. The disclosure for this sale can be found here. Over the last quarter, insiders bought 1,437 shares of company stock valued at $42,621. 10.76% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BHLB. Bank of New York Mellon Corp grew its position in shares of Berkshire Hills Bancorp by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 671,466 shares of the savings and loans company’s stock valued at $27,328,000 after purchasing an additional 42,850 shares in the last quarter. Legal & General Group Plc grew its position in Berkshire Hills Bancorp by 16.2% during the third quarter. Legal & General Group Plc now owns 94,075 shares of the savings and loans company’s stock worth $3,819,000 after buying an additional 13,083 shares in the last quarter. Vanguard Group Inc. grew its position in Berkshire Hills Bancorp by 2.6% during the third quarter. Vanguard Group Inc. now owns 3,794,369 shares of the savings and loans company’s stock worth $154,431,000 after buying an additional 97,393 shares in the last quarter. Vanguard Group Inc grew its position in Berkshire Hills Bancorp by 2.6% during the third quarter. Vanguard Group Inc now owns 3,794,369 shares of the savings and loans company’s stock worth $154,431,000 after buying an additional 97,393 shares in the last quarter. Finally, Rockland Trust Co. purchased a new position in Berkshire Hills Bancorp during the fourth quarter worth about $951,000. Institutional investors own 75.48% of the company’s stock.
About Berkshire Hills Bancorp
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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