Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 44.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,991 shares of the savings and loans company's stock after selling 16,067 shares during the period. Jane Street Group LLC's holdings in Berkshire Hills Bancorp were worth $568,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in Berkshire Hills Bancorp by 3.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company's stock worth $376,000 after acquiring an additional 382 shares during the period. 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 acquiring 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 acquiring 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 acquiring 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 acquiring an additional 1,051 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Stock Down 1.3%

BHLB traded down $0.33 on Monday, hitting $24.44. 667,308 shares of the company were exchanged, compared to its average volume of 389,389. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.76 and a twelve month high of $32.36. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 16.97 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 $24.91 and a two-hundred day moving average price of $27.35.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released 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. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. The business had revenue of $110.44 million during the quarter, compared to analysts' expectations of $109.71 million. During the same period in the prior year, the firm posted $0.49 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given 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 yield of 2.95%. Berkshire Hills Bancorp's payout ratio is 29.15%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $31.00 target price 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 issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.