Friday, November 27, 2020

Compass Point slashes price target on Berkshire Hills Bancorp Inc. [BHLB] – find out why.

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Berkshire Hills Bancorp Inc. [NYSE: BHLB] surged by $1.45 during the normal trading session on Tuesday and reaching a high of $13.605 during the day while it closed the day at $13.30. The company report on October 27, 2020 that Berkshire Hills Announces Third Quarter Results.

Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced third quarter net income of $21 million, or $0.42 per share, in 2020 compared to $23 million, or $0.44 per share, in 2019. The non-GAAP measure of core earnings totaled $26 million, or $0.53 per share, in the third quarter of 2020 compared to $24 million, or $0.46, per share in the third quarter of 2019. Compared to the linked quarter, results benefited from higher revenue and lower expense as the Company continues to adjust operations to improve operating profitability.


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THIRD QUARTER FINANCIAL HIGHLIGHTS (Changes are compared to the prior quarter. Measures identified as non-GAAP are reconciled on pages F-9 and F-10).

Berkshire Hills Bancorp Inc. stock has also gained 20.36% of its value over the past 7 days. However, BHLB stock has inclined by 22.58% in the 3 months of the year. Over the past six months meanwhile, it has lost -28.03% and lost -59.55% year-on date.

The market cap for BHLB stock reached $659.95 million, with 50.25 million shares outstanding and 47.87 million shares in the current float. Compared to the average trading volume of 527.74K shares, BHLB reached a trading volume of 1074444 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Berkshire Hills Bancorp Inc. [BHLB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BHLB shares is $11.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BHLB stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Compass Point have made an estimate for Berkshire Hills Bancorp Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 25, 2020. The new note on the price target was released on August 03, 2020, representing the official price target for Berkshire Hills Bancorp Inc. stock. On May 06, 2020, analysts decreased their price target for BHLB shares from 20 to 14.

The Average True Range (ATR) for Berkshire Hills Bancorp Inc. is set at 0.58, with the Price to Sales ratio for BHLB stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 0.58, with the Price to Cash per share for the same quarter was set at 22.16. Price to Free Cash Flow for BHLB in the course of the last twelve months was 2.46.

BHLB stock trade performance evaluation

Berkshire Hills Bancorp Inc. [BHLB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.36. With this latest performance, BHLB shares gained by 35.16% in over the last four-week period, additionally sinking by -28.03% over the last 6 months – not to mention a drop of -56.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BHLB stock in for the last two-week period is set at 78.31, with the RSI for the last a single of trading hit 83.19, and the three-weeks RSI is set at 71.62 for Berkshire Hills Bancorp Inc. [BHLB]. The present Moving Average for the last 50 days of trading for this stock 10.13, while it was recorded at 12.02 for the last single week of trading, and 14.80 for the last 200 days.

Berkshire Hills Bancorp Inc. [BHLB]: An insightful look at the core fundamentals

Earnings per share (EPS) analysis for Berkshire Hills Bancorp Inc. [BHLB] stock

With the latest financial reports released by the company, Berkshire Hills Bancorp Inc. posted 0.46/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BHLB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Berkshire Hills Bancorp Inc. go to 10.00%.

Berkshire Hills Bancorp Inc. [BHLB]: Insider Ownership positions

There are presently around $507 million, or 78.40% of BHLB stock, in the hands of institutional investors. The top three institutional holders of BHLB stocks are: BLACKROCK INC. with ownership of 6,998,255, which is approximately 4.174% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 4,685,637 shares of the stock with an approximate value of $62.32 million in BHLB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $50.96 million in BHLB stock with ownership of nearly -6.128% of the company’s market capitalization.

105 institutional holders increased their position in Berkshire Hills Bancorp Inc. [NYSE:BHLB] by around 5,101,520 shares. Additionally, 72 investors decreased positions by around 6,270,947 shares, while 23 investors held positions by with 26,781,177 shares. The mentioned changes placed institutional holdings at 38,153,644 shares, according to the latest SEC report filing. BHLB stock had 34 new institutional investments in for a total of 1,350,246 shares, while 28 institutional investors sold positions of 1,348,117 shares during the same period.

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