Proficio Capital Partners LLC Buys New Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Proficio Capital Partners LLC acquired a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,913 shares of the savings and loans company's stock, valued at approximately $822,000. Proficio Capital Partners LLC owned approximately 0.07% of Berkshire Hills Bancorp at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BHLB. Smartleaf Asset Management LLC raised its position in shares of Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after buying an additional 821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Berkshire Hills Bancorp in the 3rd quarter valued at $34,000. KBC Group NV lifted its position in shares of Berkshire Hills Bancorp by 57.8% during the 4th 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 during the 4th quarter worth $204,000. Finally, Victory Capital Management Inc. bought a new position in shares of Berkshire Hills Bancorp in the third quarter worth $215,000. Institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods increased their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a "market perform" rating in a research report on Tuesday, December 24th. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Finally, Seaport Res Ptn raised Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report 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 given a strong buy rating to the stock. According to MarketBeat.com, Berkshire Hills Bancorp has an average rating of "Moderate Buy" and an average price target of $31.13.

Remove Ads

Insider Transactions at Berkshire Hills Bancorp

In other news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction on Tuesday, February 11th. The shares were 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 SEC, which is accessible through the SEC website. Company insiders own 1.02% of the company's stock.

Berkshire Hills Bancorp Price Performance

BHLB stock traded down $0.24 during trading on Tuesday, reaching $26.68. 370,085 shares of the company were exchanged, compared to its average volume of 302,033. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 18.53 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $28.10 and a two-hundred day moving average of $28.28. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. As a group, equities analysts predict 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 declared 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp's payout ratio is 50.00%.

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.