Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 36.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052,150 shares of the savings and loans company's stock after selling 611,988 shares during the quarter. Wellington Management Group LLP owned approximately 2.27% of Berkshire Hills Bancorp worth $29,913,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Berkshire Hills Bancorp by 0.4% in the 4th 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 acquiring an additional 10,579 shares during the period. Invesco Ltd. raised its position 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 purchasing an additional 222,162 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Berkshire Hills Bancorp in the 4th quarter valued at $29,410,000. Systematic Financial Management LP raised its position in Berkshire Hills Bancorp by 5.0% in the 4th quarter. Systematic Financial Management LP now owns 999,861 shares of the savings and loans company's stock valued at $28,426,000 after purchasing an additional 47,234 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Berkshire Hills Bancorp by 1.2% in the 4th quarter. Nuveen Asset Management LLC now owns 665,007 shares of the savings and loans company's stock valued at $18,906,000 after purchasing an additional 7,564 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Performance

BHLB stock traded down $0.33 on Monday, hitting $24.44. The company's stock had a trading volume of 667,308 shares, compared to its average volume of 389,389. The firm has a 50 day moving average of $24.96 and a two-hundred day moving average of $27.39. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.76 and a 1 year high of $32.36. The stock 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.

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

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.18 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 2.95%. Berkshire Hills Bancorp's dividend payout ratio is currently 29.15%.

Wall Street Analysts Forecast Growth

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

About Berkshire Hills Bancorp

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.