Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,462 shares of the savings and loans company's stock, valued at approximately $383,000.
A number of other hedge funds have also recently added to or reduced their stakes in BHLB. Smartleaf Asset Management LLC grew its holdings in shares of Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after purchasing an additional 821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Berkshire Hills Bancorp during the 3rd quarter valued at approximately $34,000. KBC Group NV grew its stake in Berkshire Hills Bancorp by 57.8% during the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock worth $82,000 after buying an additional 1,051 shares during the last quarter. Plimoth Trust Co. LLC acquired a new stake in Berkshire Hills Bancorp in the fourth quarter worth $204,000. Finally, Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp in the third quarter valued at $215,000. Institutional investors and hedge funds own 83.07% of the company's stock.
Berkshire Hills Bancorp Price Performance
Berkshire Hills Bancorp stock traded down $0.09 during trading hours on Thursday, hitting $26.63. 292,379 shares of the company traded hands, compared to its average volume of 475,624. The firm's 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $28.27. The firm has a market cap of $1.23 billion, a P/E ratio of 18.49 and a beta of 0.85. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.
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 EPS for the quarter, beating 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, analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.
Berkshire Hills Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 annualized dividend and a dividend yield of 2.70%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is 50.00%.
Wall Street Analyst Weigh In
BHLB has been the subject of several recent research reports. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target 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. Piper Sandler raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Finally, Seaport Res Ptn raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Four research 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 stock has an average rating of "Moderate Buy" and a consensus target price of $31.13.
Check Out Our Latest Analysis on Berkshire Hills Bancorp
Insider Activity at Berkshire Hills Bancorp
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 shares were 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 can be accessed through this hyperlink. Company insiders own 1.02% of the company's stock.
Berkshire Hills Bancorp Profile
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Free Report)
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.
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