Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Sells $31,528.44 in Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner sold 1,052 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 link.

Berkshire Hills Bancorp Stock Down 0.5 %

Shares of Berkshire Hills Bancorp stock traded down $0.14 during midday trading on Friday, hitting $29.44. The company had a trading volume of 43,164 shares, compared to its average volume of 380,749. 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 has a market capitalization of $1.27 billion, a P/E ratio of 20.44 and a beta of 0.88. The company has a 50 day moving average of $28.91 and a 200 day moving average of $28.09. Berkshire Hills Bancorp, Inc. has a 52-week low of $20.50 and a 52-week high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data 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%. On average, equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio is currently 50.00%.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Berkshire Hills Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company’s stock worth $76,371,000 after purchasing an additional 10,579 shares in the last quarter. State Street Corp increased 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 buying an additional 18,307 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Berkshire Hills Bancorp by 21.4% in the 3rd 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 period. Invesco Ltd. raised its stake in shares of Berkshire Hills Bancorp by 20.8% in the fourth quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company’s stock valued at $36,719,000 after acquiring an additional 222,162 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $29,410,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BHLB. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. 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. Keefe, Bruyette & Woods increased 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. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

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.