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Washington Trust Bancorp

Washington Trust Bancorp, Inc. - Common Stock

Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc. Common Stock

Independent Bank

Analyst ratings are quantitative and qualitative analysis of a stock by Wall Street stock rating analysts. Stock ratings consist of expected future growth, current stock valuation and macroeconomic trends.

Laurie Havener Hunsicker's

analyst ratings image

Ratings for Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) were provided by 5 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>

Analysts have set 12-month price targets for Berkshire Hills Bancorp, revealing an average target of $33.5, a high estimate of $39.00, and a low estimate of $31.00. This upward trend is evident, with the current average reflecting a 8.06% increase from the previous average price target of $31.00.
<img src="https://www.benzinga.com/files/images/story/2025/1738346427_0.png" alt="price target chart" />

<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The perception of Berkshire Hills Bancorp by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Karl Shepard</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$31.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Christopher O'Connell</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$34.50</td>
<td>$32.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$31.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Laurie Havener Hunsicker</td>
<td>Seaport Global</td>
<td>Announces</td>
<td>Buy</td>
<td>$39.00</td>
<td>-</td>
</tr>
<tr>
<td>Christopher O'Connell</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$32.00</td>
<td>$29.00</td>
</tr>
</tbody>
</table>

<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Berkshire Hills Bancorp. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Berkshire Hills Bancorp compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Berkshire Hills Bancorp's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Berkshire Hills Bancorp's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BHLB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Berkshire Hills Bancorp analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Berkshire Hills Bancorp</h2>
Berkshire Hills Bancorp Inc is a holding company. It provides Commercial Banking, Retail Banking, Consumer Lending, Private Banking and Wealth Management services.
<h3>Unraveling the Financial Story of Berkshire Hills Bancorp</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Berkshire Hills Bancorp displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 1.64%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Berkshire Hills Bancorp's net margin excels beyond industry benchmarks, reaching 34.23%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Berkshire Hills Bancorp's ROE stands out, surpassing industry averages. With an impressive ROE of 3.6%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Berkshire Hills Bancorp's ROA stands out, surpassing industry averages. With an impressive ROA of 0.31%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.66, caution is advised due to increased financial risk.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

BHLB

Deep Dive Into Berkshire Hills Bancorp Stock: Analyst Perspectives (5 Ratings)

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) in the last three months.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>

Analysts have set 12-month price targets for Berkshire Hills Bancorp, revealing an average target of $34.12, a high estimate of $39.00, and a low estimate of $31.00. Marking an increase of 10.06%, the current average surpasses the previous average price target of $31.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1735070418_0.png" alt="price target chart" />

<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Berkshire Hills Bancorp among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Christopher O'Connell</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$34.50</td>
<td>$32.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$31.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Laurie Havener Hunsicker</td>
<td>Seaport Global</td>
<td>Announces</td>
<td>Buy</td>
<td>$39.00</td>
<td>-</td>
</tr>
<tr>
<td>Christopher O'Connell</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$32.00</td>
<td>$29.00</td>
</tr>
</tbody>
</table>

<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Berkshire Hills Bancorp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Berkshire Hills Bancorp compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Berkshire Hills Bancorp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Berkshire Hills Bancorp's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BHLB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Berkshire Hills Bancorp analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Get to Know Berkshire Hills Bancorp Better</h2>
Berkshire Hills Bancorp Inc is a holding company. It provides Commercial Banking, Retail Banking, Consumer Lending, Private Banking and Wealth Management services.
<h3>Berkshire Hills Bancorp: A Financial Overview</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Berkshire Hills Bancorp's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 1.64%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Berkshire Hills Bancorp's net margin excels beyond industry benchmarks, reaching 34.23%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Berkshire Hills Bancorp's ROE stands out, surpassing industry averages. With an impressive ROE of 3.6%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Berkshire Hills Bancorp's ROA stands out, surpassing industry averages. With an impressive ROA of 0.31%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Berkshire Hills Bancorp's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.66, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Berkshire Hills Bancorp Stock

<li>Various media sources reported on Thursday that KeyCorp (NYSE: <a class="ticker" href="/stock/key#NYSE">KEY</a>) is in advanced talks to acquire First Niagara Financial Group Inc. (NASDAQ: <a class="ticker" href="/stock/fnfg#NASDAQ">FNFG</a>).</li>
<li>Laurie Havener Hunsicker of Compass Point commented in a note on October 23 that First Niagara could be worth approximately $13 per share in a buyout scenario.</li>
<li>Despite the headline chatter, shares of First Niagara were lower by nearly 4 percent on the day after trading at a new 52-week high of $11.22.</li>
Various media sources, including <a href="http://www.wsj.com/articles/keycorp-in-advanced-talks-to-buy-first-niagara-1446133258">The Wall Street Journal</a>, reported on Thursday that KeyCorp is in advanced talks to acquire First Niagara Financial Group.
The deal would combine two regional banks, and First Niagara's near $4 billion valuation would make a transaction one of the biggest within the financial sector seen this year. The Wall Street Journal noted that a deal could be announced as early as Friday, assuming the talks don't fall apart.
<h3>Analyst Responds</h3>
Laurie Havener Hunsicker is an analyst at Compass Point Research & Trading and commented in a note on October 23 that First Niagara's shares could be worth approximately $13 per share using a core deposit premium analysis in a takeout scenario.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/15/10/5950495/compass-points-laurie-havener-hunsicker-says-no-comment-">Compass Point's Laurie Havener Hunsicker Says "No Comment" On Current DJ Rumor</a></bzrelatedlink>
Hunsicker noted that the company's third-quarter conference call (October 23) confirmed her thoughts that First Niagara is a "likely sale candidate," as the company's core systems development work has been delayed. At a minimum, this implies that the company's board is "seriously" reworking its planned $200 to $250 million infrastructure spend. On the other hand, this would suggest that another bank would take on this project as part of an acquisition.
Hunsicker also highlighted what the company's CEO Gary Crosby said during the call, "We work very closely with our board at assessing strategies, different strategies, to enhance shareholder value. That is an ongoing process [...] all within the context of this very difficult operating environment."
To that, the analyst commented, "Simply put, it's what they didn't say, in terms of confirming the desire to stay independent, that reconfirms out belief that First Niagara is for sale."
<h3>Looking Forward</h3>
Finally, the analyst stated that potential acquirers are seeking "deposit-rich" franchises. First Niagara offers an "attractive footprint" with a "clean' balance sheet and a "desirable" loan/deposit ratio of 82 percent (core mix of 86 percent, costing 14 basis points).
Shares were reiterated with a Buy rating and $12 price target, which assumes a $13 sale of the bank that is discounted to reflect a time lag (i.e, 18+ months).

Analyst Color

Trading Ideas

FNFG

Remember, First Niagara Is Worth $13/Share Amid Buyout Rumors

<ul>
	<li>
		The share price of First Niagara Financial Group, Inc. (NASDAQ: <a class="ticker" href="/stock/fnfg#NASDAQ">FNFG</a>) has increased 21.12 percent year-to-date, reaching a high of 10.365 on September 25.</li>
	<li>
		Laurie Havener Hunsicker of Compass Point has initiated coverage of First Niagara with a Buy rating and a price target of $12.</li>
	<li>
		Hunsicker believes that the stock could be valued at about $13 in a takeout scenario, representing 27 percent upside, and that the likelihood of a sale has increased.</li>
</ul>

	According to the Compass Point report, &ldquo;At a time when acquirers are seeking deposit-rich franchises, FNFG offers an attractive footprint with a clean balance sheet and a desirable loan/deposit ratio of 82 percent.&rdquo;

	The company is also an attractive acquisition target given its various &ldquo;missteps,&rdquo; high infrastructure spend and the current rate environment, especially for an acquirer who is able to trim First Niagara&rsquo;s &ldquo;outsized 70 percent efficiency ratio.&rdquo;

	Analyst Laurie Havener Hunsicker also expressed confidence in the ability of the five experienced bank directors to sell banks, and believes that &ldquo;due to likely increasing board fatigue&hellip; a sale is/or will be actively considered unless FNFG can earn its path to independence.&rdquo;

	In addition, the target returns, which had been outlined by First Niagara&rsquo;s CEO in February 2014 are not even close to being achieved.

Initiation

First Niagara Financial Worth Near $13 In Sale, Compass Point Analyst Says

In a report published Monday, Compass Point analyst Laurie Havener Hunsicker initiated coverage on Washington Trust Bancorp (NASDAQ: <a class="ticker" href="/stock/wash#NASDAQ">WASH</a>) with a Neutral rating and $38.00 price target.

In the report, Compass Point noted, "We initiate with a Neutral rating and a price target (PT) of $38, representing 2.2x tangible book (TB) and 14x FY15E EPS. We introduce operating EPS for FY15E and FY16E of $2.66 and $2.77, respectively. WASH shares currently trade at a premium to its peers; a premium which we believe is warranted as WASH is a top performing, clean, community bank with $3.6 billion in assets and is a substantial fee generator with $5.1 billion of Wealth Assets Under Management (AUM). Additionally, while the market has seemingly lost focus on asset sensitivity, we note that WASH scorecards as one of the best relative to its New England community bank peers. While our EPS estimates through 2016 do not yet assume a rate move, we believe that WASH shares could appreciate further well in advance of the actual EPS ramp occurring if the asset-sensitivity buy-trade reemerges."

Washington Trust Bancorp closed on Friday at $37.84.

WASH

UPDATE: Compass Point Initiates Coverage On Washington Trust Bancorp As Best Of Breed But Fully Valued

In a report published Tuesday, Compass Point analyst Laurie Havener Hunsicker reiterated a Buy rating on Beneficial Mutual Bancorp (NASDAQ: <a class="ticker" href="/stock/bncl#NASDAQ">BNCL</a>), but lowered the price target from $15.50 to $14.00.

In the report, Compass Point noted, “BNCL closed its 2nd step IPO on 1/12/15, and will trade regular-way on 1/13/15. In this report we exchange ratio adjust (not reduce) all remaining numbers and pricing information. Specifically, we exchange ratio adjust, not reduce, our PT (price target) to $14 target (previously $15.50/1.0999 exchange ratio = $14), still representing 1.25x pro forma tangible book (TB), page 4, lines 24-25. For comparison purposes, page 4 provides historical pricing information to exchange ratio adjust between yesterday's close of $12.04, relative to $10.95 (yesterday's close, exchange ratio adjusted), and all other pro forma pricing metrics. Minority shareholders will receive 1.0999 shares for every share owned (page 4, line 23). BNCL continues to be one of the most attractively priced, on a P/TB basis, of the Mid-Atlantic banks in the $3-10 billion asset range (page 6). BNCL offers investors a unique opportunity to invest in the 2nd largest publicly-traded PA-based bank serving the greater Philadelphia MSA (#10 rank overall); BNCL is a well-capitalized, 160+ year old, clean, $5 billion-asset sized bank (pro forma), trading below PF tangible book with a board/management team that has a proven track record of being good stewards of capital.”

Beneficial Mutual Bancorp closed on Monday at $10.95.

Price Target

BNCL

UPDATE: Compass Point Lowers Price Target On Beneficial Mutual Bancorp Following Second Step IPO Closing

In a report published Friday, Compass Point analyst Laurie Havener Hunsicker reiterated a Buy rating and $17.00 price target on Beneficial Mutual Bancorp (NASDAQ: <a class="ticker" href="/stock/bncl#NASDAQ">BNCL</a>).

In the report, Compass Point noted, “BNCL, trading at 100% of our estimated market-adjusted fully-converted tangible book (FCTB), assuming a Max-closing level of the range, continues to be one of the most attractively priced, on a P/TB basis, of the Mid-Atlantic banks in the $3-10 billion asset range. We reiterate our 12-month price target of $17, representing 1.2x market-adjusted FCTB (our price target will adjust following completion of the offering; please refer to page 4 for new target at each closing level of the range).

"Of note, the Form S-1, filed August 21, came in at a level below our expectations (1.3808 exchange ratio at the Max); however, we now assume that this deal will easily get completed at a 100% IPO-P/TB (Max level of the range), and possibly have only a small syndicate (especially as every 2nd step transaction that has come to market in 2014 has worked and BNCL's pricing is among the cheapest relative to its size); accordingly, we believe that minority shares in today's market will trade at a premium to exchange ratio math (ie, above 1.3808 * $10 = $13.81 exchange ratio adjusted to $10 IPO, assuming a Max closing level).”

Beneficial Mutual Bancorp closed on Thursday at $13.85.

Reiteration

Compass Point Has Positive Outlook On Beneficial Mutual Bancorp

In a report published Thursday, Compass Point analyst Laurie Havener Hunsicker reiterated a Buy rating and $17.00 price target on Kearny Financial (NASDAQ: <a class="ticker" href="/stock/krny#NASDAQ">KRNY</a>).

In the report, Compass Point noted, “We continue to believe a 2nd-step is on the horizon. We reiterate our Buy-rating and our $17 price target, representing par with exchange ratio and 1.0x FCTB (fully-converted tangible book). In the event of a 2nd-step announcement, our 12-month price target would jump to $19.50, or 1.15x PF FCTB, representing 28% above current trading levels. We have assumed a 101% IPO-P/TB appraisal, which is in-line with the recently closed second step of $3 billion-asset sized Meridian Bancorp (EBSB - Buy, $12 PT), which closed at a filed 104% IPO-P/TB and is currently trading 7% above issue price. KRNY offers investors a unique opportunity to invest in a well-capitalized, 130+ year old, $3.5 billion-asset sized, NYC-MSA-based bank, at a discount to fully-converted tangible book value.”

Kearny Financial closed on Wednesday at $15.26.

KRNY

Compass Point Sees 2nd Step On Horizon For Kearny Financial

In a report published Friday, Compass Point analyst Laurie Havener Hunsicker reiterated a Buy rating on Investors Bancorp (NASDAQ: <a class="ticker" href="/stock/isbc#NASDAQ">ISBC</a>), and raised the price target from $12.00 to $12.50.

In the report, Compass Point noted, “ISBC offers investors a unique opportunity to invest in the largest publicly traded bank headquartered in NJ; ISBC is a well-capitalized, 88+ year old, whistle-clean, $17 billion-asset sized bank, with a management team that has a demonstrated history of accretive acquisitions (and has continued to assert the importance of being protective to tangible book) and capital management (share repurchase and, more recently dividends). ISBC's management has successfully transitioned from a traditional thrift to a bank-like balance sheet and has a coveted footprint serving the greater NYC MSA, spanning from Philadelphia through Long Island.”

Investors Bancorp closed on Thursday at $10.75.

ISBC

UPDATE: Compass Point Reiterates On Investors Bancorp On Solid Value Buy

In a report published Tuesday, Compass Point analyst Laurie Havener Hunsicker initiated coverage on Meridian Interstate Bancorp (NASDAQ: <a class="ticker" href="/stock/ebsb#NASDAQ">EBSB</a>) with a Neutral rating and $26.00 price target.

In the report, Compass Point noted, “We initiate with a Neutral rating and a 12-month price target of $26, representing 1.15x market-adjusted fully-converted TB (FCTB). While we believe this will be a must-own name, we do not want to get in the way of exchange ratio math (we are assuming a Mid-Max closing, but note there is risk in the range).

"We have highlighted the current market value and potential price target at each level in the range on page 12, lines 26-27; our current price target will be exchange ratio adjusted following the offering. For those investors who can't stomach the rollercoaster of exchange ratio risk (exchange ratio range: 1.7580-2.7353; or $18 to $27 in value at par with exchange ratio), we suggest waiting for the closing level announcement, and tee-it-up for day-1 aftermarket purchasing.

"EBSB offers investors a unique opportunity to invest in the 3rd largest publicly-traded MA-based bank serving the greater Boston MSA; EBSB is a well-capitalized, 166 year old, clean, $3 billion-asset sized bank (pro forma), trading close to tangible book. We base our valuation on a blended five-pronged approach: 1) Franchise; 2) Peers; 3) Credit; 4) Capital/capital management tools; and 5) Management expertise and ownership.”

Meridian Interstate Bancorp closed on Monday at $24.84.

EBSB

UPDATE: Compass Point Initiates Coverage on Meridian Interstate Bancorp as Company Isn&#39;t a Must-Own Name Yet

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