Assenagon Asset Management S.A. Purchases Shares of 234,665 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Assenagon Asset Management S.A. bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 234,665 shares of the savings and loans company's stock, valued at approximately $6,672,000. Assenagon Asset Management S.A. owned approximately 0.55% of Berkshire Hills Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Berkshire Hills Bancorp by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company's stock worth $5,135,000 after purchasing an additional 72,402 shares during the period. Barclays PLC raised its position in shares of Berkshire Hills Bancorp by 105.0% in the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company's stock worth $2,595,000 after acquiring an additional 49,356 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of 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 purchasing an additional 2,268 shares during the last quarter. Wellington Management Group LLP boosted its position in Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company's stock valued at $44,815,000 after purchasing an additional 293,784 shares in the last quarter. Finally, State Street Corp raised its holdings in Berkshire Hills Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company's stock worth $57,455,000 after purchasing an additional 18,307 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock traded down $0.02 on Monday, hitting $28.48. The company had a trading volume of 236,847 shares, compared to its average volume of 540,795. The company has a 50-day moving average price of $29.48 and a 200-day moving average price of $27.63. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.22 billion, a P/E ratio of 29.97 and a beta of 0.89. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $119.61 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The company's revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Thursday, November 14th. Berkshire Hills Bancorp's dividend payout ratio is presently 75.79%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a "sector perform" rating for the company in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods increased their price target on 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 upgraded Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. 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 stock. Based on data from MarketBeat, Berkshire Hills Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price 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.