Stock of The Day: What’s in Berkshire Hills Bancorp, Inc. After Touching 52-Week High?

Stock of The Day: What's in Berkshire Hills Bancorp, Inc. After Touching 52 Week High?

The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) hit a new 52-week high and has $36.81 target or 7.00% above today’s $34.40 share price. The 9 months bullish chart indicates low risk for the $1.06B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $36.81 price target is reached, the company will be worth $74.20 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 111,787 shares traded hands. Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has risen 22.10% since April 26, 2016 and is uptrending. It has outperformed by 16.84% the S&P500.

Analysts await Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to report earnings on January, 23. They expect $0.57 EPS, up 5.56% or $0.03 from last year’s $0.54 per share. BHLB’s profit will be $17.56M for 15.09 P/E if the $0.57 EPS becomes a reality. After $0.57 actual EPS reported by Berkshire Hills Bancorp, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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

Out of 6 analysts covering Berkshire Hills Bancorp (NYSE:BHLB), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. $34 is the highest target while $29 is the lowest. The $30.33 average target is -11.83% below today’s ($34.4) stock price. Berkshire Hills Bancorp has been the topic of 10 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Tuesday, October 27 by Compass Point. Compass Point downgraded the shares of BHLB in a report on Friday, November 18 to “Sell” rating. The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) earned “Outperform” rating by Keefe Bruyette & Woods on Tuesday, November 10. As per Thursday, July 23, the company rating was upgraded by Sandler O’Neill. Compass Point upgraded the stock to “Neutral” rating in Tuesday, October 25 report. The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has “Neutral” rating given on Wednesday, November 16 by PiperJaffray. The stock has “Neutral” rating given by Piper Jaffray on Wednesday, November 16.

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 1.75 in 2016 Q2. Its up 0.42, from 1.33 in 2016Q1. The ratio is positive, 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.
Highbridge Capital Mngmt Ltd has 33,726 shares for 0.01% of their US portfolio. American Group holds 0% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 17,717 shares. Ajo Limited Partnership has 0.03% invested in the company for 219,255 shares. Moreover, Renaissance Technologies Ltd Liability has 0.01% invested in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 291,881 shares. Nationwide Fund Advisors owns 81,812 shares or 0.01% of their US portfolio. Ubs Asset Mngmt Americas has 16,660 shares for 0% of their US portfolio. D E Shaw And last reported 0.01% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 727 shares. Brandywine Invest Mgmt Lc holds 0.02% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 87,850 shares. Heartland Advsrs holds 0.51% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 336,117 shares. The Colorado-based Public Employees Retirement Association Of Colorado has invested 0% in Berkshire Hills Bancorp, Inc. (NYSE:BHLB). Moreover, Sit Invest Assocs Inc has 0% invested in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 3,450 shares. Blackrock Investment Mgmt Lc accumulated 0% or 125,023 shares. Victory Cap holds 0% or 23,100 shares in its portfolio. State Street, a Massachusetts-based fund reported 651,657 shares.

Insider Transactions: Since August 18, 2016, the stock had 2 insider buys, and 8 selling transactions for $3.89 million net activity. Dunlaevy James Williar also sold $442,799 worth of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) shares. 366 shares with value of $9,981 were bought by Moffatt Laurie Norton on Thursday, August 18. $16,305 worth of shares were sold by Carroll Michael D. on Monday, November 14. Bossidy Paul T had bought 1,000 shares worth $29,300.

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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