Principal Financial Group Inc. lifted its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 11.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,935 shares of the savings and loans company's stock after purchasing an additional 22,454 shares during the period. Principal Financial Group Inc. owned about 0.49% of Berkshire Hills Bancorp worth $5,921,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BHLB. Quarry LP lifted its holdings in Berkshire Hills Bancorp by 142.7% during the 4th quarter. Quarry LP now owns 1,291 shares of the savings and loans company's stock worth $37,000 after buying an additional 759 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Berkshire Hills Bancorp by 805.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company's stock worth $39,000 after purchasing an additional 1,224 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Berkshire Hills Bancorp by 2,259.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company's stock worth $64,000 after purchasing an additional 2,169 shares in the last quarter. Man Group plc acquired a new stake in shares of Berkshire Hills Bancorp during the fourth quarter worth about $216,000. Finally, Algert Global LLC acquired a new stake in shares of Berkshire Hills Bancorp during the fourth quarter worth about $237,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
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 research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Berkshire Hills Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.
Check Out Our Latest Stock Report on Berkshire Hills Bancorp
Berkshire Hills Bancorp Stock Performance
BHLB stock traded down $0.01 during trading on Friday, hitting $26.44. The company had a trading volume of 377,599 shares, compared to its average volume of 415,884. The firm has a market cap of $1.22 billion, a PE ratio of 10.70 and a beta of 0.61. Berkshire Hills Bancorp, Inc. has a 1-year low of $22.27 and a 1-year high of $32.36. The firm has a 50-day moving average price of $25.48 and a 200-day moving average price of $26.36. 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 (NYSE:BHLB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The firm had revenue of $110.44 million for the quarter, compared to analysts' expectations of $109.71 million. Berkshire Hills Bancorp had a return on equity of 9.13% and a net margin of 15.02%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.
Berkshire Hills Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, May 15th. Berkshire Hills Bancorp's dividend payout ratio is presently 29.15%.
Berkshire Hills Bancorp Company Profile
(
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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