Jupiter Asset Management Ltd. Takes $4.06 Million Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Key Points

• Jupiter Asset Management Ltd. has made a new investment of approximately $4.06 million in Berkshire Hills Bancorp, acquiring 155,573 shares during the first quarter.
• As of the latest filings, 83.07% of Berkshire Hills Bancorp's stock is owned by institutional investors and hedge funds.
• Berkshire Hills Bancorp reported an earnings per share (EPS) of $0.69 for the last quarter, exceeding analysts' expectations of $0.58.

Jupiter Asset Management Ltd. acquired a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 155,573 shares of the savings and loans company's stock, valued at approximately $4,059,000. Jupiter Asset Management Ltd. owned approximately 0.34% of Berkshire Hills Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Adage Capital Partners GP L.L.C. bought a new position in Berkshire Hills Bancorp in the fourth quarter valued at $29,410,000. Bayview Asset Management LLC bought a new position in shares of Berkshire Hills Bancorp during the fourth quarter valued at about $9,330,000. Strategic Value Bank Partners LLC grew 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 buying an additional 304,376 shares during the last quarter. Millennium Management LLC grew its stake in shares of Berkshire Hills Bancorp by 79.3% during the fourth quarter. Millennium Management LLC now owns 537,221 shares of the savings and loans company's stock valued at $15,273,000 after buying an additional 237,607 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Berkshire Hills Bancorp by 20.8% during the fourth quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company's stock worth $36,719,000 after purchasing an additional 222,162 shares during the period. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Stock Down 0.9%

Shares of BHLB stock traded down $0.21 during trading hours on Thursday, hitting $24.02. 111,963 shares of the company's stock traded hands, compared to its average volume of 487,358. Berkshire Hills Bancorp, Inc. has a 12-month low of $22.27 and a 12-month high of $32.36. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 9.40 and a beta of 0.66. The stock's fifty day simple moving average is $25.35 and its two-hundred day simple moving average is $26.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.48.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its earnings results on Thursday, July 24th. The savings and loans company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.11. The business had revenue of $113.67 million during the quarter, compared to the consensus estimate of $113.34 million. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The firm's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, August 14th. Berkshire Hills Bancorp's dividend payout ratio is 28.13%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reiterated a "sector perform" rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a report on Monday, April 28th.

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.