StockNews.com lowered shares of Berkshire Hills Bancorp (NYSE:BHLB – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
BHLB has been the subject of several other reports. Seaport Res Ptn reaffirmed a sell rating on shares of Berkshire Hills Bancorp in a report on Tuesday, September 12th. TheStreet raised shares of Berkshire Hills Bancorp from a c rating to a b- rating in a report on Thursday, July 20th. Finally, Royal Bank of Canada decreased their target price on shares of Berkshire Hills Bancorp from $23.00 to $22.00 and set a sector perform rating for the company in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $27.67.
Read Our Latest Analysis on BHLB
Berkshire Hills Bancorp Stock Up 0.1 %
Shares of Berkshire Hills Bancorp stock opened at $19.61 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $863.04 million, a PE ratio of 8.45 and a beta of 0.98. Berkshire Hills Bancorp has a 52-week low of $18.07 and a 52-week high of $31.63. The company has a 50-day simple moving average of $20.18 and a two-hundred day simple moving average of $21.12.
Berkshire Hills Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a $0.18 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.67%. Berkshire Hills Bancorp’s dividend payout ratio is presently 31.03%.
Insider Transactions at Berkshire Hills Bancorp
In other Berkshire Hills Bancorp news, Director Mary Anne Callahan bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was bought at an average cost of $19.84 per share, for a total transaction of $198,400.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $198,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.
Institutional Trading of Berkshire Hills Bancorp
Several large investors have recently added to or reduced their stakes in BHLB. American Century Companies Inc. grew its position in Berkshire Hills Bancorp by 22.4% during the first quarter. American Century Companies Inc. now owns 8,833 shares of the savings and loans company’s stock valued at $256,000 after buying an additional 1,617 shares during the period. Private Advisor Group LLC lifted its holdings in Berkshire Hills Bancorp by 16.2% during the first quarter. Private Advisor Group LLC now owns 8,357 shares of the savings and loans company’s stock valued at $242,000 after purchasing an additional 1,162 shares in the last quarter. Citigroup Inc. lifted its holdings in Berkshire Hills Bancorp by 2.9% during the first quarter. Citigroup Inc. now owns 47,577 shares of the savings and loans company’s stock valued at $1,378,000 after purchasing an additional 1,329 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Berkshire Hills Bancorp by 14.9% during the first quarter. Natixis Advisors L.P. now owns 14,862 shares of the savings and loans company’s stock valued at $431,000 after purchasing an additional 1,932 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Berkshire Hills Bancorp by 66.2% during the first quarter. Bank of Montreal Can now owns 31,848 shares of the savings and loans company’s stock valued at $936,000 after purchasing an additional 12,684 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, interest-bearing checking, 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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