Allianz Asset Management GmbH Boosts Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Berkshire Hills Bancorp by 153.6% during the first quarter, now owning approximately 0.07% of the firm's shares valued at $827,000.
• Several investors, including Adage Capital Partners and ExodusPoint Capital Management, have also recently increased their positions, bringing institutional ownership in the company to 83.07%.
• Analysts from the Royal Bank of Canada have set a $31.00 price target for Berkshire Hills Bancorp, with a recent EPS of $0.69 reported, exceeding expectations.

Allianz Asset Management GmbH boosted its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 153.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,700 shares of the savings and loans company's stock after acquiring an additional 19,200 shares during the period. Allianz Asset Management GmbH owned about 0.07% of Berkshire Hills Bancorp worth $827,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. acquired a new position in Berkshire Hills Bancorp during the fourth quarter worth approximately $29,410,000. ExodusPoint Capital Management LP grew its position in shares of Berkshire Hills Bancorp by 623.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company's stock worth $14,687,000 after acquiring an additional 445,228 shares during the last quarter. Bayview Asset Management LLC acquired a new position in shares of Berkshire Hills Bancorp in the 4th quarter valued at $9,330,000. Strategic Value Bank Partners LLC raised its position in Berkshire Hills Bancorp by 134.6% in the 1st quarter. Strategic Value Bank Partners LLC now owns 530,489 shares of the savings and loans company's stock valued at $13,840,000 after purchasing an additional 304,376 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Berkshire Hills Bancorp by 79.3% during the 4th quarter. Millennium Management LLC now owns 537,221 shares of the savings and loans company's stock worth $15,273,000 after purchasing an additional 237,607 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada restated a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research note on Monday, April 28th.

Berkshire Hills Bancorp Price Performance

BHLB stock opened at $24.62 on Friday. The firm has a 50 day moving average of $25.40 and a 200-day moving average of $26.21. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 9.62 and a beta of 0.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. Berkshire Hills Bancorp, Inc. has a 12-month low of $22.27 and a 12-month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.58 by $0.11. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The business had revenue of $113.67 million for the quarter, compared to analyst estimates of $113.34 million. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. As a group, equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp 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.

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