Wellington Management Group LLP Cuts Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Wellington Management Group LLP decreased its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 36.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052,150 shares of the savings and loans company's stock after selling 611,988 shares during the period. Wellington Management Group LLP owned 2.45% of Berkshire Hills Bancorp worth $29,913,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Berkshire Hills Bancorp by 282.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after purchasing an additional 821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $34,000. KBC Group NV boosted its position in shares of Berkshire Hills Bancorp by 57.8% during the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock valued at $82,000 after buying an additional 1,051 shares during the last quarter. Plimoth Trust Co. LLC bought a new stake in Berkshire Hills Bancorp during the fourth quarter worth $204,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Berkshire Hills Bancorp in the 4th quarter valued at $256,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Transactions at Berkshire Hills Bancorp

In other news, EVP Ellen Tulchiner sold 1,052 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.02% of the company's stock.

Analyst Ratings Changes

BHLB has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted 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 report on Tuesday, December 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. 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, Piper Sandler upgraded Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Four equities 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.13.

Berkshire Hills Bancorp Stock Performance

NYSE:BHLB traded down $0.08 during trading hours on Friday, reaching $22.90. The stock had a trading volume of 617,101 shares, compared to its average volume of 351,811. The stock has a market cap of $1.06 billion, a P/E ratio of 15.90 and a beta of 0.58. The stock has a 50 day simple moving average of $26.88 and a 200 day simple moving average of $28.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Berkshire Hills Bancorp, Inc. has a 12-month low of $20.50 and a 12-month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. On average, research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 EPS 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 issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.14%. Berkshire Hills Bancorp's payout ratio is currently 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.