Millennium Management LLC Increases Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Millennium Management LLC raised its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 79.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537,221 shares of the savings and loans company's stock after acquiring an additional 237,607 shares during the period. Millennium Management LLC owned about 1.25% of Berkshire Hills Bancorp worth $15,273,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in 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 worth $76,371,000 after acquiring an additional 10,579 shares during the last quarter. Invesco Ltd. increased 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 worth $36,719,000 after purchasing an additional 222,162 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $29,410,000. American Century Companies Inc. increased its position in shares of Berkshire Hills Bancorp by 0.4% during the 4th quarter. American Century Companies Inc. now owns 625,824 shares of the savings and loans company's stock worth $17,792,000 after purchasing an additional 2,694 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its position in shares of Berkshire Hills Bancorp by 623.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company's stock worth $14,687,000 after purchasing an additional 445,228 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Trading Down 1.0%

Shares of BHLB traded down $0.24 during mid-day trading on Wednesday, reaching $25.16. 25,237 shares of the company were exchanged, compared to its average volume of 384,711. The stock has a market capitalization of $1.17 billion, a PE ratio of 17.48 and a beta of 0.53. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.76 and a 52 week high of $32.36. The business has a 50 day simple moving average of $25.06 and a two-hundred day simple moving average of $27.54. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. The firm had revenue of $110.44 million during the quarter, compared to the consensus estimate of $109.71 million. During the same quarter in the prior year, the company earned $0.49 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.86%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is currently 29.15%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued a "sector perform" rating and set a $31.00 target price 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Berkshire Hills Bancorp 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.