Callan Family Office LLC Acquires Shares of 17,370 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Callan Family Office LLC bought a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,370 shares of the savings and loans company's stock, valued at approximately $494,000.

A number of other hedge funds have also made changes to their positions in BHLB. State Street Corp raised its holdings in shares of Berkshire Hills Bancorp by 0.9% during 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 acquiring an additional 18,307 shares in the last quarter. Wellington Management Group LLP raised its stake 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. Systematic Financial Management LP lifted its holdings in shares of Berkshire Hills Bancorp by 13.7% during the 3rd quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company's stock valued at $25,654,000 after buying an additional 114,433 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Berkshire Hills Bancorp by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,307 shares of the savings and loans company's stock valued at $12,035,000 after buying an additional 15,383 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Berkshire Hills Bancorp by 28.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company's stock valued at $9,175,000 after buying an additional 75,476 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BHLB. Royal Bank of Canada reiterated a "sector perform" rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Piper Sandler raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th. Finally, Keefe, Bruyette & Woods raised 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. Four equities 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. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE BHLB traded down $0.28 during trading hours on Thursday, hitting $25.77. 352,068 shares of the stock were exchanged, compared to its average volume of 448,261. The firm has a market capitalization of $1.20 billion, a P/E ratio of 17.90 and a beta of 0.85. Berkshire Hills Bancorp, Inc. has a one year low of $20.50 and a one year high of $32.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company's 50 day moving average is $28.37 and its 200 day moving average is $28.33.

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

Berkshire Hills Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp's payout ratio is presently 50.00%.

Insider Buying and Selling

In related news, EVP Ellen Tulchiner sold 1,052 shares of the company's stock in a transaction on 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by company insiders.

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.