Berkshire Hills Bancorp, Inc. $BHLB Holdings Raised by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Berkshire Hills Bancorp, Inc. by 5.0%, owning approximately 2.92% of the company valued at $35.37 million as of the latest filing.
• Berkshire Hills Bancorp reported $0.69 earnings per share (EPS) for the last quarter, exceeding analysts' expectations by $0.11, with a year-over-year revenue increase of 4.6%.
• The company declared a quarterly dividend of $0.18, resulting in a 2.9% yield, to be paid to shareholders of record on August 14th.

Invesco Ltd. grew its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,355,863 shares of the savings and loans company's stock after acquiring an additional 64,316 shares during the quarter. Invesco Ltd. owned approximately 2.92% of Berkshire Hills Bancorp worth $35,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Berkshire Hills Bancorp by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 5,257,565 shares of the savings and loans company's stock valued at $137,170,000 after acquiring an additional 105,497 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Berkshire Hills Bancorp by 0.4% during 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 buying an additional 10,579 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Berkshire Hills Bancorp during the 4th quarter worth $29,410,000. Systematic Financial Management LP grew its stake in Berkshire Hills Bancorp by 5.0% during the 4th quarter. Systematic Financial Management LP now owns 999,861 shares of the savings and loans company's stock worth $28,426,000 after buying an additional 47,234 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Berkshire Hills Bancorp by 1.2% during the 4th quarter. Nuveen Asset Management LLC now owns 665,007 shares of the savings and loans company's stock worth $18,906,000 after buying an additional 7,564 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Price Performance

Shares of BHLB opened at $25.16 on Tuesday. The company has a market cap of $1.17 billion, a P/E ratio of 9.83 and a beta of 0.66. The stock has a fifty day moving average price of $25.39 and a 200 day moving average price of $25.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. 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 results on Thursday, July 24th. The savings and loans company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.11. Berkshire Hills Bancorp had a return on equity of 9.45% and a net margin of 15.93%. The company had revenue of $113.67 million during the quarter, compared to analysts' expectations of $113.34 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research 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, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. Berkshire Hills Bancorp's dividend payout ratio is presently 28.13%.

Analysts Set New Price Targets

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

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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