Proficio Capital Partners LLC Makes New $822,000 Investment in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Proficio Capital Partners 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,913 shares of the savings and loans company's stock, valued at approximately $822,000. Proficio Capital Partners LLC owned 0.07% of Berkshire Hills Bancorp as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BHLB. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at approximately $34,000. KBC Group NV lifted its holdings in shares of Berkshire Hills Bancorp by 57.8% during the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock valued at $82,000 after acquiring an additional 1,051 shares during the period. Plimoth Trust Co. LLC acquired a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at $204,000. Victory Capital Management Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter worth about $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Berkshire Hills Bancorp by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company's stock worth $361,000 after purchasing an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Berkshire Hills Bancorp Price Performance

Shares of BHLB traded up $0.16 during mid-day trading on Wednesday, hitting $26.04. 257,500 shares of the company traded hands, compared to its average volume of 441,605. 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 stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 18.08 and a beta of 0.85. The business has a 50-day moving average of $28.42 and a 200 day moving average of $28.35. Berkshire Hills Bancorp, Inc. has a one year low of $20.50 and a one year high of $32.36.

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Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating 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%. As a group, equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 dividend on an annualized basis and a yield of 2.77%. Berkshire Hills Bancorp's payout ratio is 50.00%.

Analyst Upgrades and Downgrades

BHLB has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Piper Sandler raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Keefe, Bruyette & Woods raised their price target 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. Finally, Seaport Res Ptn raised 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 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 an average rating of "Moderate Buy" and an average target price of $31.13.

Insiders Place Their Bets

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 shares were sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company's stock.

Berkshire Hills Bancorp Company 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.