Commonwealth Equity Services LLC Buys 14,750 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Commonwealth Equity Services LLC lifted its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 11.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,775 shares of the savings and loans company's stock after acquiring an additional 14,750 shares during the period. Commonwealth Equity Services LLC owned approximately 0.33% of Berkshire Hills Bancorp worth $4,031,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BHLB. Wellington Management Group LLP grew its position in shares of Berkshire Hills Bancorp by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company's stock worth $44,815,000 after purchasing an additional 293,784 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at approximately $6,672,000. Systematic Financial Management LP grew its position in Berkshire Hills Bancorp by 13.7% during the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company's stock worth $25,654,000 after buying an additional 114,433 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Berkshire Hills Bancorp by 28.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company's stock worth $9,175,000 after acquiring an additional 75,476 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in 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 valued at $5,135,000 after acquiring an additional 72,402 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods increased their price objective on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a "market perform" rating in a research note on Tuesday, December 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Finally, Piper Sandler upgraded shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Berkshire Hills Bancorp Price Performance

Berkshire Hills Bancorp stock traded down $0.10 during midday trading on Tuesday, reaching $26.82. The company's stock had a trading volume of 95,471 shares, compared to its average volume of 301,252. 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 stock has a market cap of $1.24 billion, a PE ratio of 18.64 and a beta of 0.85. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The business has a 50-day moving average price of $28.13 and a 200-day moving average price of $28.28.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. On average, sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued a dividend of $0.18 per share. 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 dividend payout ratio (DPR) is 50.00%.

Insider Buying and Selling

In other news, EVP Ellen Tulchiner sold 1,052 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently 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.