As previously reported, Janney Montgomery Scott analyst Jake Civiello downgraded Berkshire Hills Bancorp to Neutral from Buy with a $28 fair value estimate. Q2 results were “decent,” but the firm believes valuation has returned to an “appropriate level” following a more than 20% increase in shares since July 1 and notes that its 2025 EPS estimate is below consensus as it takes a more conservative approach on credit.
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