Bank of New York Mellon Corp Reduces Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Bank of New York Mellon Corp decreased its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 449,009 shares of the savings and loans company's stock after selling 15,175 shares during the quarter. Bank of New York Mellon Corp owned about 1.04% of Berkshire Hills Bancorp worth $12,765,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Berkshire Hills Bancorp in the third quarter valued at $34,000. KBC Group NV grew its holdings in 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 purchasing 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 valued at $204,000. Victory Capital Management Inc. acquired a new stake in Berkshire Hills Bancorp in the third quarter valued at $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Berkshire Hills Bancorp by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company's stock valued at $361,000 after purchasing an additional 1,565 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on BHLB shares. Keefe, Bruyette & Woods upped their target price 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. Piper Sandler raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. Finally, Seaport Res Ptn raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

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Berkshire Hills Bancorp Price Performance

Shares of BHLB traded up $0.51 during trading hours on Friday, reaching $26.26. 743,627 shares of the company traded hands, compared to its average volume of 290,494. 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 stock has a market capitalization of $1.22 billion, a PE ratio of 18.23 and a beta of 0.85. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. The stock has a fifty day simple moving average of $28.29 and a 200 day simple moving average of $28.31.

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 earnings per share (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, research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 EPS 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. Shareholders of record on Thursday, February 20th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp's payout ratio is 50.00%.

Insiders Place Their Bets

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the firm'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 document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by corporate insiders.

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.