Ieq Capital LLC Takes Position in Berkshire Hills Bancorp, Inc. $BHLB

Key Points

• Ieq Capital LLC has acquired a new position in Berkshire Hills Bancorp, purchasing 19,497 shares valued at approximately $509,000.
• Berkshire Hills Bancorp reported a $0.69 EPS for the last quarter, exceeding the consensus estimate of $0.58, with a 4.6% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.18, resulting in an annualized dividend yield of 2.8%.

Ieq Capital LLC acquired a new stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,497 shares of the savings and loans company's stock, valued at approximately $509,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Berkshire Hills Bancorp by 166.4% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,842,975 shares of the savings and loans company's stock worth $48,083,000 after buying an additional 1,151,107 shares during the last quarter. Nuveen LLC bought a new stake in shares of Berkshire Hills Bancorp during the first quarter valued at about $17,966,000. Strategic Value Bank Partners LLC boosted its stake in shares of Berkshire Hills Bancorp by 134.6% during the first 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 period. Millennium Management LLC raised its holdings in Berkshire Hills Bancorp by 79.3% in the fourth quarter. Millennium Management LLC now owns 537,221 shares of the savings and loans company's stock worth $15,273,000 after purchasing an additional 237,607 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Berkshire Hills Bancorp by 83.2% in the first quarter. Assenagon Asset Management S.A. now owns 429,887 shares of the savings and loans company's stock worth $11,216,000 after purchasing an additional 195,222 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Trading Down 2.5%

Shares of Berkshire Hills Bancorp stock traded down $0.65 on Monday, reaching $25.66. The company had a trading volume of 2,575,853 shares, compared to its average volume of 509,286. Berkshire Hills Bancorp, Inc. has a 1 year low of $22.27 and a 1 year high of $32.36. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 10.02 and a beta of 0.73. The firm's 50-day moving average price is $25.76 and its two-hundred day moving average price is $25.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99.

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 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.11. The company had revenue of $113.67 million during the quarter, compared to analysts' expectations of $113.34 million. Berkshire Hills Bancorp had a return on equity of 9.45% and a net margin of 15.93%.The firm's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.8%. Berkshire Hills Bancorp's payout ratio is 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.