Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 61.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,673 shares of the savings and loans company's stock after purchasing an additional 72,402 shares during the period. JPMorgan Chase & Co. owned about 0.44% of Berkshire Hills Bancorp worth $5,135,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp increased its holdings in Berkshire Hills Bancorp by 33.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 49,903 shares of the savings and loans company's stock worth $1,138,000 after purchasing an additional 12,528 shares during the period. American Century Companies Inc. lifted its stake in Berkshire Hills Bancorp by 6.5% in the second quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company's stock worth $14,232,000 after acquiring an additional 38,327 shares during the period. Dimensional Fund Advisors LP lifted its stake in Berkshire Hills Bancorp by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company's stock worth $60,024,000 after acquiring an additional 36,521 shares during the period. Renaissance Technologies LLC grew its holdings in Berkshire Hills Bancorp by 60.4% during the 2nd quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company's stock worth $9,636,000 after acquiring an additional 159,200 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Berkshire Hills Bancorp during the 2nd quarter valued at about $409,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

BHLB has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on Berkshire Hills Bancorp from $32.00 to $31.00 and set a "sector perform" rating for the company in a research note on Tuesday, December 17th. 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. Keefe, Bruyette & Woods raised their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a "market perform" rating in a report on Tuesday, December 24th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Berkshire Hills Bancorp has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Berkshire Hills Bancorp Stock Down 0.1 %

NYSE BHLB traded down $0.02 during trading on Friday, hitting $28.48. The company's stock had a trading volume of 236,847 shares, compared to its average volume of 387,095. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. 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 company has a market cap of $1.22 billion, a PE ratio of 29.97 and a beta of 0.89. The business's 50 day simple moving average is $29.48 and its 200-day simple moving average is $27.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. During the same quarter in the prior year, the business posted $0.50 EPS. Berkshire Hills Bancorp's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 2.53%. Berkshire Hills Bancorp's dividend payout ratio is currently 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.