Fintel reports that on October 23, 2023, RBC Capital maintained coverage of Berkshire Hills Bancorp (NYSE:BHLB) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 24.22% Upside
As of October 5, 2023, the average one-year price target for Berkshire Hills Bancorp is 23.20. The forecasts range from a low of 16.16 to a high of $29.40. The average price target represents an increase of 24.22% from its latest reported closing price of 18.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Berkshire Hills Bancorp is 397MM, a decrease of 3.76%. The projected annual non-GAAP EPS is 2.54.
Berkshire Hills Bancorp Declares $0.18 Dividend
On August 4, 2023 the company declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Shareholders of record as of August 17, 2023 received the payment on August 31, 2023. Previously, the company paid $0.18 per share.
At the current share price of $18.68 / share, the stock's dividend yield is 3.85%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.17%, the lowest has been 1.54%, and the highest has been 10.46%. The standard deviation of yields is 1.92 (n=236).
The current dividend yield is 0.36 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.50%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 448 funds or institutions reporting positions in Berkshire Hills Bancorp. This is a decrease of 4 owner(s) or 0.88% in the last quarter. Average portfolio weight of all funds dedicated to BHLB is 0.09%, a decrease of 26.67%. Total shares owned by institutions decreased in the last three months by 2.35% to 43,022K shares. 
The put/call ratio of BHLB is 4.80, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,092K shares representing 7.14% ownership of the company. No change in the last quarter.
Clark Capital Management Group holds 1,875K shares representing 4.33% ownership of the company. In it's prior filing, the firm reported owning 1,926K shares, representing a decrease of 2.69%. The firm decreased its portfolio allocation in BHLB by 35.69% over the last quarter.
Alliancebernstein holds 1,725K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 1,558K shares, representing an increase of 9.70%. The firm decreased its portfolio allocation in BHLB by 12.69% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,304K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 1,295K shares, representing an increase of 0.67%. The firm decreased its portfolio allocation in BHLB by 23.17% over the last quarter.
Invesco holds 1,225K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 1,159K shares, representing an increase of 5.36%. The firm increased its portfolio allocation in BHLB by 787.42% over the last quarter.
Berkshire Hills Bancorp Background Information
(This description is provided by the company.)
Berkshire Hills Bancorp is the parent of Berkshire Bank, a 21st century community bank pursuing purpose driven performance based on its Be FIRST corporate responsibility culture. Headquartered in Boston, Berkshire operates 130 banking offices in seven Northeastern states, with approximately $12.9 billion in assets.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
