Berkshire Hills Bancorp, Inc. $BHLB Shares Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Berkshire Hills Bancorp by 64.8%, holding 34,497 shares valued at approximately $900,000.
• Berkshire Hills Bancorp reported $0.69 earnings per share in its most recent quarterly results, exceeding expectations and demonstrating 4.6% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.18 per share, representing a yield of 2.7% and a payout ratio of 28.13%.

Quantbot Technologies LP raised its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 64.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,497 shares of the savings and loans company's stock after buying an additional 13,566 shares during the quarter. Quantbot Technologies LP owned approximately 0.07% of Berkshire Hills Bancorp worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHLB. Meeder Asset Management Inc. lifted its stake in Berkshire Hills Bancorp by 130.9% in the first quarter. Meeder Asset Management Inc. now owns 1,374 shares of the savings and loans company's stock valued at $36,000 after buying an additional 779 shares during the last quarter. Quarry LP lifted its stake in Berkshire Hills Bancorp by 142.7% in the fourth quarter. Quarry LP now owns 1,291 shares of the savings and loans company's stock valued at $37,000 after buying an additional 759 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Berkshire Hills Bancorp by 2,259.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company's stock valued at $64,000 after buying an additional 2,169 shares during the last quarter. CWM LLC lifted its stake in Berkshire Hills Bancorp by 508.7% in the first quarter. CWM LLC now owns 4,413 shares of the savings and loans company's stock valued at $115,000 after buying an additional 3,688 shares during the last quarter. Finally, Man Group plc acquired a new position in shares of Berkshire Hills Bancorp in the fourth quarter valued at approximately $216,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE:BHLB traded down $0.20 during trading on Friday, reaching $26.11. The company had a trading volume of 2,575,853 shares, compared to its average volume of 435,306. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.20 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The stock's fifty day moving average price is $25.68 and its 200 day moving average price is $25.66. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $22.27 and a fifty-two week high of $32.36.

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

Berkshire Hills Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a $0.18 dividend. The ex-dividend date of this dividend 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 presently 28.13%.

About Berkshire Hills Bancorp

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.