Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP boosted its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 952,627 shares of the savings and loans company's stock after acquiring an additional 114,433 shares during the quarter. Systematic Financial Management LP owned about 2.22% of Berkshire Hills Bancorp worth $25,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Berkshire Hills Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company's stock worth $60,024,000 after acquiring an additional 36,521 shares during the last quarter. American Century Companies Inc. increased its stake in Berkshire Hills Bancorp by 6.5% during the second quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company's stock worth $14,232,000 after acquiring an additional 38,327 shares during the last quarter. Renaissance Technologies LLC increased its stake in Berkshire Hills Bancorp by 60.4% during the second quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company's stock worth $9,636,000 after acquiring an additional 159,200 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Berkshire Hills Bancorp by 28.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company's stock worth $9,175,000 after buying an additional 75,476 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Berkshire Hills Bancorp during the second quarter worth $6,330,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a "market perform" rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $28.20.

Berkshire Hills Bancorp Trading Down 0.8 %

Shares of BHLB traded down $0.25 during midday trading on Thursday, hitting $30.40. 131,370 shares of the stock were exchanged, compared to its average volume of 256,010. The firm has a market cap of $1.31 billion, a P/E ratio of 32.26 and a beta of 0.88. The stock has a fifty day simple moving average of $28.58 and a 200 day simple moving average of $26.05. Berkshire Hills Bancorp, Inc. has a 52-week low of $20.50 and a 52-week high of $32.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its 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. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The firm had revenue of $125.70 million during the quarter, compared to analysts' expectations of $119.61 million. During the same period in the previous year, the firm posted $0.50 EPS. Berkshire Hills Bancorp's revenue for the quarter was up 16.6% on a year-over-year basis. On average, research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 2.37%. Berkshire Hills Bancorp's payout ratio is 75.79%.

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.