Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,677,869 shares, an increase of 355.8% from the May 31st total of 587,572 shares. Approximately 7.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,243,990 shares, the short-interest ratio is presently 2.2 days.
In related news, EVP Michael D. Carroll sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $42.53, for a total transaction of $63,795.00. Following the completion of the sale, the executive vice president now owns 7,432 shares of the company’s stock, valued at approximately $316,082.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BHLB. Principal Financial Group Inc. grew its position in Berkshire Hills Bancorp by 5,532.8% in the 1st quarter. Principal Financial Group Inc. now owns 373,677 shares of the savings and loans company’s stock worth $14,181,000 after purchasing an additional 367,043 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Berkshire Hills Bancorp by 109.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 692,521 shares of the savings and loans company’s stock worth $25,346,000 after purchasing an additional 361,525 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Berkshire Hills Bancorp by 112.9% in the 4th quarter. Deutsche Bank AG now owns 312,243 shares of the savings and loans company’s stock worth $11,426,000 after acquiring an additional 165,567 shares during the period. Foundry Partners LLC lifted its stake in shares of Berkshire Hills Bancorp by 958.9% in the 1st quarter. Foundry Partners LLC now owns 160,372 shares of the savings and loans company’s stock worth $6,086,000 after acquiring an additional 145,227 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Berkshire Hills Bancorp by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,530,095 shares of the savings and loans company’s stock worth $133,968,000 after acquiring an additional 136,750 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.
A number of equities research analysts recently weighed in on BHLB shares. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. ValuEngine cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.08.
NYSE BHLB opened at $40.60 on Friday. Berkshire Hills Bancorp has a 52 week low of $32.85 and a 52 week high of $44.10. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 17.73 and a beta of 0.66.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Monday, April 23rd. The savings and loans company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. Berkshire Hills Bancorp had a net margin of 12.82% and a return on equity of 7.39%. The firm had revenue of $114.99 million during the quarter, compared to analysts’ expectations of $118.90 million. equities analysts expect that Berkshire Hills Bancorp will post 2.74 earnings per share for the current year.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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