Worth Watching: Berkshire Hills Bancorp, Inc. Just Reaches 52-Week High?

Worth Watching: Berkshire Hills Bancorp, Inc. Just Reaches 52 Week High?

The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) hit a new 52-week high and has $47.96 target or 57.00% above today’s $30.55 share price. The 5 months bullish chart indicates low risk for the $940.31 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $47.96 price target is reached, the company will be worth $535.98 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 115,023 shares traded hands. Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has risen 13.95% since April 7, 2016 and is uptrending. It has outperformed by 9.17% the S&P500.

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Ratings Coverage

Out of 4 analysts covering Berkshire Hills Bancorp (NYSE:BHLB), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Berkshire Hills Bancorp has been the topic of 7 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has “Neutral” rating given on Tuesday, October 25 by Compass Point. The stock has “Buy” rating given by Sandler O’Neill on Thursday, July 23. The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) earned “Neutral” rating by Compass Point on Tuesday, October 27. Keefe Bruyette & Woods upgraded Berkshire Hills Bancorp, Inc. (NYSE:BHLB) rating on Tuesday, November 10. Keefe Bruyette & Woods has “Outperform” rating and $33 price target.

According to Zacks Investment Research, “Berkshire Hills Bancorp, Inc. is a bank holding company. Through its subsidiaries, the company is engaged as a community bank that accepts retail deposits from the general public in the areas surrounding its full-service banking offices and uses those funds,together with funds generated from operations and borrowings, to originate residential mortgage loans, commercial business and real estate loans and consumer loans, primarily indirect automobile loans.”

Insitutional Activity: The institutional sentiment increased to 1.33 in Q2 2016. Its up 0.10, from 1.23 in 2016Q1. The ratio improved, as 18 funds sold all Berkshire Hills Bancorp, Inc. shares owned while 34 reduced positions. 12 funds bought stakes while 57 increased positions. They now own 21.73 million shares or 2.58% less from 22.31 million shares in 2016Q1.
Grantham Mayo Van Otterloo Ltd Liability Co last reported 0% of its portfolio in the stock. Citadel Ltd Liability Corporation reported 17,389 shares or 0% of all its holdings. Creative Planning accumulated 500 shares or 0% of the stock. Tudor Et Al has invested 0% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB). Parametric Associate Ltd Liability has invested 0% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB). Pinnacle Ltd Liability owns 5,944 shares or 0% of their US portfolio. Godshalk Welsh Capital Management owns 34,050 shares or 0.97% of their US portfolio. Johnson Investment Counsel accumulated 0.02% or 22,000 shares. Blackrock Limited holds 34,254 shares or 0% of its portfolio. Rothschild Asset Incorporated last reported 0.32% of its portfolio in the stock. Aqr Mgmt Limited holds 49,081 shares or 0% of its portfolio. Great West Life Assurance Can last reported 0% of its portfolio in the stock. Federated Invsts Pa holds 33,427 shares or 0% of its portfolio. Commonwealth Equity Svcs Incorporated owns 117,176 shares or 0.03% of their US portfolio. Assetmark accumulated 1,237 shares or 0% of the stock.

Insider Transactions: Since August 18, 2016, the stock had 2 buys, and 4 selling transactions for $1.86 million net activity. Dunlaevy James Williar sold $439,921 worth of stock or 15,000 shares. 366 shares were bought by Moffatt Laurie Norton, worth $9,981 on Thursday, August 18. Bossidy Paul T had bought 1,000 shares worth $29,300 on Friday, October 28.

Another recent and important Berkshire Hills Bancorp, Inc. (NYSE:BHLB) news was published by Nasdaq.com which published an article titled: “Is Berkshire Hills (BHLB) Stock a Solid Choice Right Now?” on September 09, 2016.

BHLB Company Profile

Berkshire Hills Bancorp, Inc. (Berkshire), incorporated on January 10, 2000, is the holding firm for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal clients in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps. The Bank has over 90 full-service banking offices in its New England and upstate New York footprint. The Bank also has commercial and retail lending offices located in Eastern Massachusetts. The Bank serves regions, including Western New England, with over 20 banking offices; New York, with over 40 banking offices serving the Albany Capital District and Central New York; Hartford/Springfield, with over 25 banking offices serving the market along the Connecticut River in this region, which is in New England, and Eastern Massachusetts, with lending offices and over two branch offices located in towns west and north of Boston.

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