Quantbot Technologies LP Invests $595,000 in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Quantbot Technologies LP acquired a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 20,931 shares of the savings and loans company's stock, valued at approximately $595,000.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company's stock worth $44,815,000 after purchasing an additional 293,784 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Berkshire Hills Bancorp during the fourth quarter worth approximately $6,672,000. Systematic Financial Management LP lifted its position in shares of Berkshire Hills Bancorp by 13.7% during the 3rd quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company's stock worth $25,654,000 after buying an additional 114,433 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 28.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company's stock valued at $9,175,000 after buying an additional 75,476 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of 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 valued at $5,135,000 after buying an additional 72,402 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB traded down $0.03 during mid-day trading on Tuesday, hitting $26.06. 483,687 shares of the company's stock were exchanged, compared to its average volume of 334,768. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. The business's 50 day moving average is $27.87 and its two-hundred day moving average is $28.29. The firm has a market capitalization of $1.21 billion, a P/E ratio of 18.09 and a beta of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share 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 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 annualized dividend and a yield of 2.76%. Berkshire Hills Bancorp's dividend payout ratio is currently 50.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. 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 boosted their target price 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. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. Four 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 company. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Insider Buying and Selling at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction that occurred on 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 SEC, which is accessible through this link. 1.02% of the stock is currently owned by corporate insiders.

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.