Teachers Advisors LLC lifted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,751 shares of the savings and loans company’s stock after purchasing an additional 8,399 shares during the period. Teachers Advisors LLC owned about 0.21% of Berkshire Hills Bancorp worth $2,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stieven Capital Advisors L.P. acquired a new position in shares of Berkshire Hills Bancorp in the 2nd quarter valued at $5,080,000. Vanguard Group Inc. lifted its stake in shares of Berkshire Hills Bancorp by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 2,584,068 shares of the savings and loans company’s stock valued at $93,155,000 after purchasing an additional 239,543 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Berkshire Hills Bancorp in the 2nd quarter valued at $15,179,000. State Street Corp lifted its stake in shares of Berkshire Hills Bancorp by 21.5% in the 1st quarter. State Street Corp now owns 1,056,853 shares of the savings and loans company’s stock valued at $38,096,000 after purchasing an additional 186,950 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Berkshire Hills Bancorp by 8.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 56,997 shares of the savings and loans company’s stock valued at $2,004,000 after purchasing an additional 4,600 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.
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In other news, insider Michael P. Daly sold 25,000 shares of Berkshire Hills Bancorp stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $33.78, for a total transaction of $844,500.00. Following the completion of the transaction, the insider now owns 103,670 shares of the company’s stock, valued at approximately $3,501,972.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Murphy purchased 1,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $34.25 per share, with a total value of $34,250.00. Following the purchase, the director now directly owns 9,668 shares in the company, valued at $331,129. The disclosure for this purchase can be found here. Insiders own 2.82% of the company’s stock.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut shares of Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $41.00 price target on shares of Berkshire Hills Bancorp in a report on Tuesday, October 3rd. FIG Partners reissued an “outperform” rating and issued a $41.00 price target on shares of Berkshire Hills Bancorp in a report on Wednesday, September 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price target on shares of Berkshire Hills Bancorp in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.92.
Shares of Berkshire Hills Bancorp, Inc. (BHLB) opened at 39.50 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 21.81 and a beta of 0.67. The company has a 50-day moving average of $37.20 and a 200 day moving average of $36.07. Berkshire Hills Bancorp, Inc. has a one year low of $29.05 and a one year high of $40.00.
Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.13% and a net margin of 15.54%. The company had revenue of $100.83 million during the quarter, compared to the consensus estimate of $107.60 million. On average, equities analysts forecast that Berkshire Hills Bancorp, Inc. will post $2.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, November 8th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 45.16%.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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