Private Advisor Group LLC Acquires Shares of 10,078 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Private Advisor Group LLC acquired a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLBFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,078 shares of the savings and loans company’s stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its stake in Berkshire Hills Bancorp by 22.4% during the first quarter. American Century Companies Inc. now owns 8,833 shares of the savings and loans company’s stock worth $256,000 after buying an additional 1,617 shares during the period. Citigroup Inc. boosted its stake in shares of Berkshire Hills Bancorp by 2.9% in the first quarter. Citigroup Inc. now owns 47,577 shares of the savings and loans company’s stock valued at $1,378,000 after purchasing an additional 1,329 shares during the period. Natixis Advisors L.P. boosted its stake in shares of Berkshire Hills Bancorp by 14.9% in the first quarter. Natixis Advisors L.P. now owns 14,862 shares of the savings and loans company’s stock valued at $431,000 after purchasing an additional 1,932 shares during the period. Bank of Montreal Can boosted its stake in shares of Berkshire Hills Bancorp by 66.2% in the first quarter. Bank of Montreal Can now owns 31,848 shares of the savings and loans company’s stock valued at $936,000 after purchasing an additional 12,684 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Berkshire Hills Bancorp by 57.5% in the first quarter. MetLife Investment Management LLC now owns 26,548 shares of the savings and loans company’s stock valued at $769,000 after purchasing an additional 9,697 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.

Analyst Ratings Changes

BHLB has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Piper Sandler upgraded shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Wednesday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

Check Out Our Latest Research Report on Berkshire Hills Bancorp

Insiders Place Their Bets

In other news, Director Michael Zaitzeff sold 51,910 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $25.18, for a total value of $1,307,093.80. Following the sale, the director now owns 2,665 shares in the company, valued at approximately $67,104.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of BHLB opened at $22.22 on Thursday. The firm has a market cap of $970.13 million, a PE ratio of 13.88 and a beta of 0.91. The firm’s 50 day moving average price is $23.95 and its 200 day moving average price is $21.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.96 and a current ratio of 0.96. Berkshire Hills Bancorp, Inc. has a twelve month low of $18.07 and a twelve month high of $31.08.

Berkshire Hills Bancorp (NYSE:BHLBGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $142.15 million during the quarter, compared to the consensus estimate of $109.05 million. Berkshire Hills Bancorp had a net margin of 11.24% and a return on equity of 9.48%. During the same period in the prior year, the business earned $0.64 EPS. As a group, research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.07 EPS for the current fiscal year.

Berkshire Hills Bancorp Profile

(Free Report)

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, interest-bearing checking, 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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Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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