Bank of America Corp DE Purchases 25,865 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Bank of America Corp DE boosted its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 24.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,015 shares of the savings and loans company's stock after purchasing an additional 25,865 shares during the quarter. Bank of America Corp DE owned 0.31% of Berkshire Hills Bancorp worth $3,753,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Berkshire Hills Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company's stock valued at $76,371,000 after buying an additional 10,579 shares in the last quarter. Invesco Ltd. raised its holdings in Berkshire Hills Bancorp by 20.8% in the 4th 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 in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Berkshire Hills Bancorp in the 4th quarter valued at $29,410,000. American Century Companies Inc. raised its holdings in Berkshire Hills Bancorp by 0.4% in the 4th quarter. American Century Companies Inc. now owns 625,824 shares of the savings and loans company's stock valued at $17,792,000 after acquiring an additional 2,694 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its holdings in Berkshire Hills Bancorp by 623.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company's stock valued at $14,687,000 after acquiring an additional 445,228 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Berkshire Hills Bancorp Price Performance

NYSE BHLB traded down $0.29 during midday trading on Friday, hitting $24.80. The company had a trading volume of 372,881 shares, compared to its average volume of 388,275. The company has a market capitalization of $1.15 billion, a PE ratio of 17.22 and a beta of 0.53. 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 firm has a 50-day moving average price of $24.96 and a 200-day moving average price of $27.41. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.76 and a twelve month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. The company had revenue of $110.44 million during the quarter, compared to analysts' expectations of $109.71 million. During the same quarter in the previous year, the firm earned $0.49 EPS. Berkshire Hills Bancorp's revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.90%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is currently 29.15%.

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.