Jacobs Levy Equity Management Inc. Acquires 75,476 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Jacobs Levy Equity Management Inc. raised its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 28.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,694 shares of the savings and loans company's stock after buying an additional 75,476 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.79% of Berkshire Hills Bancorp worth $9,175,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Berkshire Hills Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock valued at $415,000 after purchasing an additional 496 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Berkshire Hills Bancorp by 4.9% in 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 purchasing an additional 1,071 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at approximately $34,000. nVerses Capital LLC lifted 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 purchasing an additional 1,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 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 valued at $361,000 after purchasing an additional 1,565 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the company a "market perform" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Berkshire Hills Bancorp presently has an average rating of "Hold" and a consensus price target of $28.20.

Berkshire Hills Bancorp Stock Up 1.2 %

NYSE:BHLB traded up $0.35 during trading hours on Friday, reaching $30.75. 180,254 shares of the company traded hands, compared to its average volume of 255,688. The business's 50-day moving average price is $28.66 and its two-hundred day moving average price is $26.08. The stock has a market capitalization of $1.32 billion, a P/E ratio of 32.00 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.50 and a 1 year high of $32.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

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

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, November 14th. Berkshire Hills Bancorp's payout ratio is 75.79%.

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.