Cubist Systematic Strategies LLC Has $5.51 Million Holdings in Berkshire Hills Bancorp, Inc. $BHLB

Key Points

• Cubist Systematic Strategies LLC has significantly increased its stake in Berkshire Hills Bancorp, Inc. by 203.6%, now owning 211,314 shares valued at approximately $5.5 million.
• Berkshire Hills Bancorp recently reported $0.69 earnings per share (EPS) for the quarter, surpassing analysts' expectations of $0.58, and showcased a 4.6% revenue growth year-over-year.
• The company has declared a quarterly dividend of $0.18 per share, providing an annualized yield of 2.8% with a payout ratio of 28.13%.

Cubist Systematic Strategies LLC lifted its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 203.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,314 shares of the savings and loans company's stock after buying an additional 141,720 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.46% of Berkshire Hills Bancorp worth $5,513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BHLB. Meeder Asset Management Inc. raised its stake in shares of Berkshire Hills Bancorp by 130.9% in the first quarter. Meeder Asset Management Inc. now owns 1,374 shares of the savings and loans company's stock valued at $36,000 after acquiring an additional 779 shares during the last quarter. Quarry LP boosted its position in shares of Berkshire Hills Bancorp by 78.5% during the 1st quarter. Quarry LP now owns 2,305 shares of the savings and loans company's stock worth $60,000 after purchasing an additional 1,014 shares in the last quarter. State of Wyoming purchased a new stake in Berkshire Hills Bancorp in the 1st quarter valued at about $102,000. CWM LLC boosted its holdings in Berkshire Hills Bancorp by 508.7% in the 1st quarter. CWM LLC now owns 4,413 shares of the savings and loans company's stock worth $115,000 after buying an additional 3,688 shares during the period. Finally, Man Group plc purchased a new position in Berkshire Hills Bancorp in the 4th quarter worth $216,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Stock Performance

BHLB stock traded down $0.65 during midday trading on Monday, reaching $25.66. 2,575,853 shares of the company's stock traded hands, compared to its average volume of 509,286. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock's 50-day moving average is $25.76 and its 200 day moving average is $25.51. Berkshire Hills Bancorp, Inc. has a 52-week low of $22.27 and a 52-week high of $32.36. The stock has a market cap of $1.19 billion, a P/E ratio of 10.02 and a beta of 0.73.

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 for the quarter, beating analysts' consensus estimates of $0.58 by $0.11. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The business had revenue of $113.67 million for the quarter, compared to analysts' expectations of $113.34 million. During the same period last year, the business earned $0.55 EPS. The company's revenue was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Berkshire Hills Bancorp's dividend payout ratio is currently 28.13%.

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.