State Street Corp Boosts Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

State Street Corp raised its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,119,475 shares of the savings and loans company's stock after acquiring an additional 18,307 shares during the quarter. State Street Corp owned approximately 4.93% of Berkshire Hills Bancorp worth $57,455,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BHLB. FMR LLC grew its holdings in Berkshire Hills Bancorp by 3.3% during the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock worth $415,000 after acquiring an additional 496 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Berkshire Hills Bancorp by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company's stock valued at $520,000 after purchasing an additional 1,071 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Berkshire Hills Bancorp during the third quarter worth about $34,000. nVerses Capital LLC raised its holdings in Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company's stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Berkshire Hills Bancorp by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company's stock valued at $361,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BHLB shares. Royal Bank of Canada lowered their price target on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $29.20.

Berkshire Hills Bancorp Stock Down 1.1 %

Shares of BHLB traded down $0.32 during midday trading on Thursday, reaching $27.80. The stock had a trading volume of 683,008 shares, compared to its average volume of 273,131. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 29.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The company's fifty day simple moving average is $29.33 and its two-hundred day simple moving average is $26.58. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. Berkshire Hills Bancorp's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. Equities research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.16 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.59%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is 75.79%.

About Berkshire Hills Bancorp

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.