Renaissance Technologies LLC Has $11.55 Million Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Renaissance Technologies LLC cut its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 406,321 shares of the savings and loans company's stock after selling 16,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.95% of Berkshire Hills Bancorp worth $11,552,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Berkshire Hills Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company's stock worth $57,455,000 after purchasing an additional 18,307 shares during the period. Invesco Ltd. raised its holdings in shares of Berkshire Hills Bancorp by 20.8% during the fourth quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company's stock worth $36,719,000 after purchasing an additional 222,162 shares during the period. American Century Companies Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 0.4% in the 4th quarter. American Century Companies Inc. now owns 625,824 shares of the savings and loans company's stock worth $17,792,000 after purchasing an additional 2,694 shares during the last quarter. ExodusPoint Capital Management LP lifted its position in Berkshire Hills Bancorp by 623.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company's stock valued at $14,687,000 after purchasing an additional 445,228 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Berkshire Hills Bancorp by 29.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 441,143 shares of the savings and loans company's stock valued at $12,542,000 after acquiring an additional 99,538 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB traded up $0.13 during trading hours on Friday, reaching $23.60. 364,521 shares of the company traded hands, compared to its average volume of 356,857. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The stock's fifty day moving average is $26.35 and its 200 day moving average is $27.95. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The stock has a market cap of $1.09 billion, a P/E ratio of 16.39 and a beta of 0.58.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Equities research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp's dividend payout ratio (DPR) is presently 50.00%.

Insider Transactions at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Berkshire Hills Bancorp has an average rating of "Moderate Buy" and a consensus target price of $31.13.

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.