Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 8.6% in the fourth quarter, HoldingsChannel reports. The fund owned 28,202 shares of the savings and loans company’s stock after buying an additional 2,242 shares during the period. Wells Fargo & Company MN’s holdings in Berkshire Hills Bancorp were worth $802,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in BHLB. Jane Street Group LLC boosted its position in Berkshire Hills Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 36,058 shares of the savings and loans company’s stock worth $971,000 after acquiring an additional 2,268 shares during the period. Barclays PLC lifted its holdings in shares of Berkshire Hills Bancorp by 105.0% in the third quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock valued at $2,595,000 after buying an additional 49,356 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Berkshire Hills Bancorp by 61.2% in the third quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock valued at $5,135,000 after buying an additional 72,402 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $6,672,000. Finally, KBC Group NV lifted its holdings in shares of Berkshire Hills Bancorp by 57.8% in the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock valued at $82,000 after buying an additional 1,051 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ellen Tulchiner sold 1,052 shares of the 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 filing with the SEC, which is available at this link. Insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Monday. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Berkshire Hills Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $31.13.

Berkshire Hills Bancorp Stock Down 1.0 %

NYSE:BHLB opened at $24.86 on Thursday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.26 and a beta of 0.58. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.76 and a 1-year high of $32.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $25.49 and its 200 day moving average price is $27.84.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The firm had revenue of $110.44 million for the quarter, compared to analyst estimates of $109.71 million. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Berkshire Hills Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.90%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is 29.15%.

Berkshire Hills Bancorp Company 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.