Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Stock Holdings Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 11.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 141,775 shares of the savings and loans company’s stock after acquiring an additional 14,750 shares during the quarter. Commonwealth Equity Services LLC owned about 0.33% of Berkshire Hills Bancorp worth $4,031,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Berkshire Hills Bancorp in the fourth quarter valued at approximately $383,000. Amundi boosted its stake in Berkshire Hills Bancorp by 187.0% during the 4th quarter. Amundi now owns 20,470 shares of the savings and loans company’s stock valued at $571,000 after purchasing an additional 13,337 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Berkshire Hills Bancorp by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock valued at $376,000 after purchasing an additional 382 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter worth $1,572,000. Finally, Callan Family Office LLC acquired a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $494,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of NYSE:BHLB opened at $26.13 on Monday. The business has a fifty day simple moving average of $28.14 and a 200 day simple moving average of $28.28. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.50 and a 1 year high of $32.36. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 18.14 and a beta of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. As a group, sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is presently 50.00%.

Insiders Place Their Bets

In related news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods increased their target price on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research note on Tuesday, December 24th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Berkshire Hills Bancorp Profile

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.