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

Compass Point lowered shares of Berkshire Hills Bancorp (NYSE:BHLB) from a neutral rating to a sell rating in a report issued on Tuesday, MarketBeat.com reports. Compass Point currently has $38.00 price target on the savings and loans company’s stock.

BHLB has been the topic of several other reports. ValuEngine cut shares of Berkshire Hills Bancorp from a hold rating to a sell rating in a research report on Friday, October 19th. TheStreet cut shares of Berkshire Hills Bancorp from a b- rating to a c+ rating in a research report on Friday, January 4th. FIG Partners cut shares of Berkshire Hills Bancorp from an outperform rating to a market-perform rating in a research report on Wednesday, October 31st. Finally, Zacks Investment Research cut shares of Berkshire Hills Bancorp from a hold rating to a sell rating in a research report on Monday, December 24th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $40.50.

Shares of Berkshire Hills Bancorp stock traded up $0.13 during mid-day trading on Tuesday, hitting $27.86. 142,507 shares of the stock were exchanged, compared to its average volume of 244,726. Berkshire Hills Bancorp has a twelve month low of $25.77 and a twelve month high of $44.25. The stock has a market capitalization of $1.26 billion, a P/E ratio of 12.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.91 and a quick ratio of 0.90.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Wednesday, October 17th. The savings and loans company reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. Berkshire Hills Bancorp had a net margin of 15.64% and a return on equity of 8.33%. The business had revenue of $118.62 million for the quarter, compared to analysts’ expectations of $120.17 million. As a group, analysts forecast that Berkshire Hills Bancorp will post 2.74 EPS for the current year.

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

Hedge funds have recently made changes to their positions in the business. Laurion Capital Management LP acquired a new stake in Berkshire Hills Bancorp in the third quarter worth about $204,000. Cubist Systematic Strategies LLC bought a new stake in Berkshire Hills Bancorp in the second quarter worth about $264,000. Citadel Advisors LLC bought a new stake in Berkshire Hills Bancorp in the second quarter worth about $354,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Berkshire Hills Bancorp by 24.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,651 shares of the savings and loans company’s stock worth $393,000 after acquiring an additional 1,868 shares in the last quarter. Finally, WBI Investments Inc. bought a new stake in Berkshire Hills Bancorp in the third quarter worth about $461,000. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Debt-To-Equity Ratio

Analyst Recommendations for Berkshire Hills Bancorp (NYSE:BHLB)

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