Berkshire Hills Bancorp (NYSE:BHLB) had its price objective cut by equities research analysts at Keefe, Bruyette & Woods from $16.50 to $13.50 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “market perform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 35.54% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Compass Point cut shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating in a research report on Wednesday, May 6th. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 7th. ValuEngine upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet cut Berkshire Hills Bancorp from a “c” rating to a “d” rating in a research note on Wednesday. Finally, Piper Sandler raised Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $15.50 to $14.50 in a research report on Friday, June 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Berkshire Hills Bancorp currently has a consensus rating of “Hold” and a consensus target price of $18.75.

BHLB stock opened at $9.96 on Friday. The business’s fifty day moving average price is $10.63 and its 200 day moving average price is $17.47. Berkshire Hills Bancorp has a 12-month low of $9.15 and a 12-month high of $33.72. The company has a current ratio of 0.90, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $499.84 million, a PE ratio of -0.96 and a beta of 1.32.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Wednesday, July 29th. The savings and loans company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.25). The firm had revenue of $94.97 million during the quarter, compared to analyst estimates of $105.70 million. Berkshire Hills Bancorp had a negative net margin of 95.25% and a positive return on equity of 3.87%. Research analysts predict that Berkshire Hills Bancorp will post 0.7 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHLB. Advisor Group Holdings Inc. purchased a new stake in Berkshire Hills Bancorp during the first quarter worth approximately $27,000. Asio Capital LLC acquired a new stake in Berkshire Hills Bancorp during the second quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Berkshire Hills Bancorp by 41.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,071 shares of the savings and loans company’s stock worth $60,000 after buying an additional 1,193 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Berkshire Hills Bancorp by 55.6% in the 1st quarter. US Bancorp DE now owns 7,048 shares of the savings and loans company’s stock valued at $105,000 after buying an additional 2,517 shares in the last quarter. Finally, Plimoth Trust Co. LLC purchased a new position in shares of Berkshire Hills Bancorp in the 2nd quarter valued at $168,000. Institutional investors and hedge funds own 77.12% 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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