Connor Clark & Lunn Investment Management Ltd. Takes $383,000 Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,462 shares of the savings and loans company's stock, valued at approximately $383,000.

Several other large investors also recently bought and sold shares of the company. Amundi grew its holdings in shares of Berkshire Hills Bancorp by 187.0% during the fourth quarter. Amundi now owns 20,470 shares of the savings and loans company's stock worth $571,000 after buying an additional 13,337 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Berkshire Hills Bancorp by 3.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company's stock worth $376,000 after acquiring an additional 382 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in Berkshire Hills Bancorp during the 4th quarter valued at about $1,572,000. Callan Family Office LLC acquired a new stake in Berkshire Hills Bancorp in the 4th quarter valued at about $494,000. Finally, Raymond James Financial Inc. acquired a new stake in Berkshire Hills Bancorp in the 4th quarter valued at about $485,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.02% of the company's stock.

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Analyst Upgrades and Downgrades

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

Berkshire Hills Bancorp Trading Down 0.4 %

BHLB traded down $0.10 on Tuesday, hitting $26.82. The company had a trading volume of 95,471 shares, compared to its average volume of 301,252. The company's fifty day moving average price is $28.13 and its 200 day moving average price is $28.28. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.50 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 firm has a market cap of $1.24 billion, a P/E ratio of 18.64 and a beta of 0.85.

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

Berkshire Hills Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp's payout ratio is 50.00%.

About Berkshire Hills Bancorp

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.