Glendon Capital Management LP Acquires New Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Glendon Capital Management LP purchased a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 172,413 shares of the savings and loans company's stock, valued at approximately $4,902,000. Berkshire Hills Bancorp makes up about 0.3% of Glendon Capital Management LP's holdings, making the stock its 15th biggest holding. Glendon Capital Management LP owned approximately 0.40% of Berkshire Hills Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock worth $31,000 after buying an additional 821 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Berkshire Hills Bancorp in the third quarter worth approximately $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 period. Plimoth Trust Co. LLC acquired a new position in Berkshire Hills Bancorp during the fourth quarter worth approximately $204,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Berkshire Hills Bancorp during the fourth quarter worth approximately $256,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.

Berkshire Hills Bancorp Stock Down 0.2 %

Shares of BHLB traded down $0.05 during midday trading on Tuesday, reaching $23.54. 177,529 shares of the company were exchanged, compared to its average volume of 487,427. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The stock has a 50-day moving average price of $27.57 and a 200-day moving average price of $28.21. 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 company has a market cap of $1.09 billion, a price-to-earnings ratio of 16.32 and a beta of 0.58.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share 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%. Research analysts expect 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. Investors of record on Thursday, February 20th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp's payout ratio is 50.00%.

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.