Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 29.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441,143 shares of the savings and loans company's stock after purchasing an additional 99,538 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.03% of Berkshire Hills Bancorp worth $12,542,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Berkshire Hills Bancorp by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company's stock worth $44,815,000 after buying an additional 293,784 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter worth approximately $6,672,000. Norges Bank purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter worth approximately $3,769,000. JPMorgan Chase & Co. raised 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 worth $5,135,000 after buying an additional 72,402 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new position in Berkshire Hills Bancorp during the 4th quarter worth $1,572,000. 83.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BHLB has been the topic of several research reports. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. 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, Keefe, Bruyette & Woods lifted their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a "market perform" rating in a report on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

Berkshire Hills Bancorp Stock Down 3.7 %

Shares of Berkshire Hills Bancorp stock traded down $0.90 during trading on Thursday, reaching $23.37. The company's stock had a trading volume of 49,632 shares, compared to its average volume of 495,159. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 16.23 and a beta of 0.58. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The company has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $28.10.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings results 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, equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 dividend on an annualized basis and a yield of 3.08%. Berkshire Hills Bancorp's dividend payout ratio is currently 50.00%.

Insiders Place Their Bets

In other news, EVP Ellen Tulchiner sold 1,052 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is currently owned by insiders.

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.