The stock of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) hit a new 52-week high and has $52.30 target or 58.00% above today’s $33.10 share price. The 6 months bullish chart indicates low risk for the $1.03 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $52.30 price target is reached, the company will be worth $597.40 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 43,493 shares traded hands. Berkshire Hills Bancorp, Inc. (NYSE:BHLB) has risen 17.35% since April 15, 2016 and is uptrending. It has outperformed by 12.72% the S&P500.
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Ratings Coverage
Out of 6 analysts covering Berkshire Hills Bancorp (NYSE:BHLB), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Berkshire Hills Bancorp has been the topic of 9 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by PiperJaffray on Wednesday, November 16. The rating was downgraded by Piper Jaffray on Wednesday, November 16 to “Neutral”. The firm has “Buy” rating by Sandler O’Neill given on Thursday, July 23. On Tuesday, October 25 the stock rating was upgraded by Compass Point to “Neutral”. Compass Point maintained the stock with “Neutral” rating in Tuesday, October 27 report. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Tuesday, November 10.
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 increased, 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.
Schwab Charles Inv Mngmt holds 0% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 109,713 shares. Massachusetts Ma has 241,516 shares for 0% of their US portfolio. Ajo Limited Partnership reported 219,255 shares or 0.03% of all its holdings. Tower Cap (Trc) holds 500 shares or 0% of its portfolio. Nationwide Fund Advsrs has invested 0.01% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB). Teachers Retirement Sys Of The State Of Kentucky has invested 0.01% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB). Great West Life Assurance Can owns 4,360 shares or 0% of their US portfolio. Lsv Asset reported 716,572 shares or 0.04% of all its holdings. New York State Common Retirement Fund reported 32,600 shares or 0% of all its holdings. Pinnacle Holdg Ltd Liability Corporation reported 5,944 shares or 0% of all its holdings. Teachers Advsr Inc has 61,671 shares for 0% of their US portfolio. Blackrock Fund Advsrs holds 0% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) for 724,805 shares. Millennium Mngmt Limited Liability holds 469,078 shares or 0.03% of its portfolio. Endeavour Cap Advsrs Incorporated reported 281,767 shares or 0.57% of all its holdings. Assetmark Incorporated has invested 0% of its portfolio in Berkshire Hills Bancorp, Inc. (NYSE:BHLB).
Insider Transactions: Since August 18, 2016, the stock had 2 insider purchases, and 8 sales for $3.89 million net activity. The insider Dunlaevy James Williar sold 15,000 shares worth $448,020. $29,300 worth of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was bought by Bossidy Paul T. Carroll Michael D. had sold 500 shares worth $16,305 on Monday, November 14. $9,981 worth of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) shares were bought by Moffatt Laurie Norton.
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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