Berkshire Hills Bancorp (NYSE:BHLB) Sees Unusually-High Trading Volume - Here's Why

Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 279,768 shares changed hands during trading, an increase of 10% from the previous session's volume of 254,589 shares.The stock last traded at $29.70 and had previously closed at $30.20.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.20.

Berkshire Hills Bancorp Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $1.28 billion, a PE ratio of 31.37 and a beta of 0.88. The business has a fifty day moving average price of $29.15 and a two-hundred day moving average price of $26.47.

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

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.41%. Berkshire Hills Bancorp's payout ratio is 75.79%.

Institutional Trading of Berkshire Hills Bancorp

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in Berkshire Hills Bancorp by 3.3% during the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock valued at $415,000 after buying an additional 496 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Berkshire Hills Bancorp by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company's stock valued at $520,000 after acquiring an additional 1,071 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at approximately $34,000. nVerses Capital LLC raised its stake in shares of Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company's stock valued at $54,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Berkshire Hills Bancorp by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company's stock worth $361,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

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.