Raymond James & Associates lifted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 20.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,881 shares of the savings and loans company’s stock after acquiring an additional 3,712 shares during the quarter. Raymond James & Associates’ holdings in Berkshire Hills Bancorp were worth $801,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 564.0% in the 4th quarter. Advisor Group Inc. now owns 2,875 shares of the savings and loans company’s stock worth $105,000 after acquiring an additional 2,442 shares during the last quarter. Intrust Bank NA purchased a new position in Berkshire Hills Bancorp in the 4th quarter worth about $212,000. Pitcairn Co. purchased a new position in Berkshire Hills Bancorp in the 4th quarter worth about $214,000. Stone Ridge Asset Management LLC purchased a new position in Berkshire Hills Bancorp in the 4th quarter worth about $253,000. Finally, MML Investors Services LLC purchased a new position in Berkshire Hills Bancorp in the 4th quarter worth about $281,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.
BHLB stock opened at $38.65 on Monday. The stock has a market capitalization of $1,753.51, a P/E ratio of 16.88 and a beta of 0.65. Berkshire Hills Bancorp, Inc. has a 12 month low of $32.85 and a 12 month high of $40.10. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company 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 7.09%. equities research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.72 EPS for the current fiscal year.
BHLB has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Piper Jaffray reaffirmed a “buy” rating and issued a $42.50 price target on shares of Berkshire Hills Bancorp in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Berkshire Hills Bancorp has a consensus rating of “Buy” and a consensus target price of $41.50.
In other Berkshire Hills Bancorp news, Director Patrick J. Sheehan bought 8,938 shares of the business’s stock in a transaction on Monday, February 5th. The shares were acquired at an average price of $37.11 per share, with a total value of $331,689.18. Following the transaction, the director now owns 1,168 shares of the company’s stock, valued at approximately $43,344.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Murphy bought 1,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $37.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now directly owns 11,884 shares in the company, valued at approximately $439,708. The disclosure for this purchase can be found here. Insiders purchased a total of 10,938 shares of company stock worth $405,689 in the last ninety days. 1.60% of the stock is currently owned by insiders.
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Berkshire Hills Bancorp Profile
Berkshire Hills Bancorp, Inc operates as a bank holding company, which engages in the provision of community banking services. The firm’s loan portfolio comprises of the following: commercial real estate; commercial and industrial; residential mortgage; and consumer. It also offers savings and checking accounts, deposits, lending, mortgages loans, insurance, and wealth management products.
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