Fagan Associates Inc. bought a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,000 shares of the savings and loans company's stock, valued at approximately $835,000. Fagan Associates Inc. owned 0.07% of Berkshire Hills Bancorp as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank raised its position in Berkshire Hills Bancorp by 4.2% during the 1st quarter. Amalgamated Bank now owns 12,917 shares of the savings and loans company's stock valued at $337,000 after purchasing an additional 524 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in Berkshire Hills Bancorp by 3.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,447 shares of the savings and loans company's stock valued at $612,000 after purchasing an additional 693 shares during the last quarter. Strategic Value Bank Partners LLC grew its stake in Berkshire Hills Bancorp by 134.6% during the 1st quarter. Strategic Value Bank Partners LLC now owns 530,489 shares of the savings and loans company's stock valued at $13,840,000 after purchasing an additional 304,376 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 11.0% in the 1st quarter. Principal Financial Group Inc. now owns 226,935 shares of the savings and loans company's stock valued at $5,921,000 after buying an additional 22,454 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in Berkshire Hills Bancorp by 30.2% in the 1st quarter. New York State Teachers Retirement System now owns 12,465 shares of the savings and loans company's stock worth $325,000 after purchasing an additional 2,888 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.
Berkshire Hills Bancorp Price Performance
Shares of Berkshire Hills Bancorp stock traded up $0.02 during trading on Monday, hitting $26.44. 19,516 shares of the company were exchanged, compared to its average volume of 490,286. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.71 and a beta of 0.61. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.24. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $22.27 and a fifty-two week high of $32.36. The firm has a 50 day moving average price of $25.50 and a 200 day moving average price of $26.32.
Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 15.02% and a return on equity of 9.13%. The firm 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 company earned $0.49 EPS. The firm's revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share 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. 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 dividend yield of 2.72%. Berkshire Hills Bancorp's payout ratio is currently 29.15%.
Analyst Ratings Changes
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 research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.17.
Get Our Latest Stock Report on BHLB
About Berkshire Hills Bancorp
(
Free Report)
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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