Wellington Management Group LLP Decreases Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Wellington Management Group LLP trimmed its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 36.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,052,150 shares of the savings and loans company's stock after selling 611,988 shares during the period. Wellington Management Group LLP owned approximately 2.27% of Berkshire Hills Bancorp worth $29,913,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BHLB. Dimensional Fund Advisors LP grew its position in shares of 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 valued at $76,371,000 after acquiring an additional 10,579 shares during the period. Invesco Ltd. grew its position in shares of Berkshire Hills Bancorp by 20.8% during 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 during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter valued at $29,410,000. Systematic Financial Management LP grew its position in shares of 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 valued at $28,426,000 after acquiring an additional 47,234 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of 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 valued at $18,906,000 after buying an additional 7,564 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated a "sector perform" rating and set a $31.00 price target 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Berkshire Hills Bancorp Price Performance

Shares of NYSE BHLB traded down $0.35 during mid-day trading on Wednesday, hitting $24.68. 78,456 shares of the company's stock traded hands, compared to its average volume of 390,008. The company's 50-day moving average is $24.88 and its two-hundred day moving average is $27.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $1.14 billion, a P/E ratio of 17.14 and a beta of 0.53. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.76 and a 1 year high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 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 the consensus estimate of $109.71 million. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors 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 annualized dividend and a yield of 2.92%. Berkshire Hills Bancorp's payout ratio is 29.15%.

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.