Eagle Asset Management Inc. lowered its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 393,649 shares of the savings and loans company’s stock after selling 43,970 shares during the period. Eagle Asset Management Inc.’s holdings in Berkshire Hills Bancorp were worth $14,407,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BHLB. Dimensional Fund Advisors LP grew its holdings in Berkshire Hills Bancorp by 6.4% during the third quarter. Dimensional Fund Advisors LP now owns 3,215,961 shares of the savings and loans company’s stock valued at $124,617,000 after purchasing an additional 192,322 shares during the last quarter. Vanguard Group Inc. grew its holdings in Berkshire Hills Bancorp by 20.9% during the second quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock valued at $109,814,000 after purchasing an additional 540,080 shares during the last quarter. LSV Asset Management grew its holdings in Berkshire Hills Bancorp by 1.4% during the fourth quarter. LSV Asset Management now owns 1,322,538 shares of the savings and loans company’s stock valued at $48,404,000 after purchasing an additional 18,500 shares during the last quarter. State Street Corp grew its holdings in Berkshire Hills Bancorp by 3.8% during the second quarter. State Street Corp now owns 1,096,485 shares of the savings and loans company’s stock valued at $38,546,000 after purchasing an additional 39,632 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Berkshire Hills Bancorp by 17.6% during the third quarter. Allianz Asset Management GmbH now owns 1,061,154 shares of the savings and loans company’s stock valued at $41,119,000 after purchasing an additional 158,961 shares during the last quarter. Hedge funds and other institutional investors own 68.14% of the company’s stock.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $42.50 price target on shares of Berkshire Hills Bancorp in a report on Tuesday, January 9th. Finally, BidaskClub downgraded Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.30.
In related news, Director Patrick J. Sheehan acquired 1,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the completion of the purchase, the director now owns 1,168 shares in the company, valued at approximately $43,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Williar Dunlaevy sold 7,455 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $39.30, for a total transaction of $292,981.50. Following the completion of the sale, the director now owns 67,747 shares in the company, valued at approximately $2,662,457.10. The disclosure for this sale can be found here. In the last 90 days, insiders bought 14,438 shares of company stock worth $538,624. 1.71% of the stock is currently owned by corporate insiders.
Shares of Berkshire Hills Bancorp, Inc. (NYSE BHLB) opened at $37.30 on Wednesday. The stock has a market cap of $1,721.02, a price-to-earnings ratio of 25.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. Berkshire Hills Bancorp, Inc. has a 52 week low of $32.85 and a 52 week high of $40.00.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $115.66 million for the quarter, compared to the consensus estimate of $115.50 million. Berkshire Hills Bancorp had a net margin of 11.37% and a return on equity of 7.44%. research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.22 dividend. This is an increase from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, February 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.36%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 59.46%.
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Berkshire Hills Bancorp Profile
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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