RBC Capital lowered the firm’s price target on Berkshire Hills Bancorp (BHLB) to $31 from $32 and keeps a Sector Perform rating on the shares. The company’s merger with Brookline Bancorp (BRKL) should meaningfully increase its scale across the Northeast, while the potential synergies between the two companies should help drive long-term improvement in efficiency and profitability, the analyst tells investors in a research note.
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Read More on BHLB:
- Berkshire Hills Bancorp upgraded to Buy from Neutral at Seaport Research
- Berkshire Hills Bancorp upgraded to Overweight from Neutral at Piper Sandler
- Berkshire Hills Bancorp upgraded at Piper Sandler after Brookline merger news
- Berkshire Hills and Brookline Bancorp Announce Merger Plan
- Brookline to merge with Berkshire in all-stock transaction valued at $1.1B