LSV Asset Management lessened its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 367,700 shares of the savings and loans company's stock after selling 58,700 shares during the period. LSV Asset Management owned 0.86% of Berkshire Hills Bancorp worth $10,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in BHLB. FMR LLC grew its stake in Berkshire Hills Bancorp by 3.3% during the 3rd quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock worth $415,000 after buying an additional 496 shares during the last quarter. State Street Corp grew its stake 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 during the last quarter. Jane Street Group LLC increased its holdings in shares of Berkshire Hills Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 36,058 shares of the savings and loans company's stock valued at $971,000 after acquiring an additional 2,268 shares in the last quarter. Barclays PLC raised its position in shares of Berkshire Hills Bancorp by 105.0% in the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company's stock valued at $2,595,000 after purchasing an additional 49,356 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Berkshire Hills Bancorp by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company's stock worth $5,135,000 after purchasing an additional 72,402 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on BHLB. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price 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. Four investment 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 stock. According to data from MarketBeat.com, Berkshire Hills Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.
Read Our Latest Research Report on BHLB
Insider Activity
In related news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction dated 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 is accessible through this link. Insiders own 1.02% of the company's stock.
Berkshire Hills Bancorp Stock Performance
Shares of NYSE:BHLB traded up $0.13 during midday trading on Friday, reaching $23.60. The company's stock had a trading volume of 364,521 shares, compared to its average volume of 356,490. The firm has a market capitalization of $1.09 billion, a PE ratio of 16.39 and a beta of 0.58. The stock has a fifty day moving average of $26.35 and a 200 day moving average of $27.95. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.
Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 EPS 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%. On average, equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.
Berkshire Hills Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.05%. Berkshire Hills Bancorp's payout ratio is 50.00%.
Berkshire Hills Bancorp Company Profile
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Free Report)
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.
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