Cubist Systematic Strategies LLC Has $1.98 Million Stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Cubist Systematic Strategies LLC boosted its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 345.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,594 shares of the savings and loans company's stock after purchasing an additional 53,970 shares during the period. Cubist Systematic Strategies LLC owned about 0.16% of Berkshire Hills Bancorp worth $1,979,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Berkshire Hills Bancorp by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company's stock valued at $376,000 after acquiring an additional 382 shares in the last quarter. Bank of Montreal Can grew its holdings in Berkshire Hills Bancorp by 7.2% during the fourth quarter. Bank of Montreal Can now owns 10,292 shares of the savings and loans company's stock worth $293,000 after purchasing an additional 690 shares during the period. Quarry LP grew its holdings in Berkshire Hills Bancorp by 142.7% during the fourth quarter. Quarry LP now owns 1,291 shares of the savings and loans company's stock worth $37,000 after purchasing an additional 759 shares during the period. Smartleaf Asset Management LLC grew its holdings in Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock worth $31,000 after purchasing an additional 821 shares during the period. Finally, KBC Group NV grew its holdings in 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 worth $82,000 after purchasing an additional 1,051 shares during the period. Institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Performance

BHLB stock traded up $0.22 during mid-day trading on Thursday, hitting $26.78. 388,893 shares of the company were exchanged, compared to its average volume of 378,687. The business has a 50 day simple moving average of $25.13 and a 200-day simple moving average of $27.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.24 billion, a PE ratio of 18.60 and a beta of 0.53. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.76 and a 1-year high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. The firm had revenue of $110.44 million during the quarter, compared to the consensus estimate of $109.71 million. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.69%. Berkshire Hills Bancorp's payout ratio is 29.15%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated a "sector perform" rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.