Russell Investments Group Ltd. Purchases 26,412 Shares of Berkshire Hills Bancorp, Inc. $BHLB

Key Points

• Russell Investments Group Ltd. increased its holdings in Berkshire Hills Bancorp by 1,166.1%, now owning 28,677 shares valued at approximately $748,000 as of the latest SEC filing.
• In the first quarter, several other institutional investors like Amalgamated Bank and Allianz Asset Management also boosted their stakes in Berkshire Hills Bancorp, with institutional ownership at 83.07%.
• Berkshire Hills Bancorp reported earnings of $0.69 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.18, reflecting a dividend yield of 2.8%.

Russell Investments Group Ltd. boosted its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 1,166.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,677 shares of the savings and loans company's stock after purchasing an additional 26,412 shares during the period. Russell Investments Group Ltd. owned 0.06% of Berkshire Hills Bancorp worth $748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank increased its holdings in Berkshire Hills Bancorp by 4.2% during the 1st quarter. Amalgamated Bank now owns 12,917 shares of the savings and loans company's stock valued at $337,000 after purchasing an additional 524 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Berkshire Hills Bancorp by 3.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,447 shares of the savings and loans company's stock valued at $612,000 after purchasing an additional 693 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Berkshire Hills Bancorp by 153.6% during the 1st quarter. Allianz Asset Management GmbH now owns 31,700 shares of the savings and loans company's stock valued at $827,000 after purchasing an additional 19,200 shares in the last quarter. Strategic Value Bank Partners LLC boosted its position in Berkshire Hills Bancorp by 134.6% in the 1st 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. Finally, Principal Financial Group Inc. boosted its position in Berkshire Hills Bancorp by 11.0% in the 1st quarter. Principal Financial Group Inc. now owns 226,935 shares of the savings and loans company's stock valued at $5,921,000 after buying an additional 22,454 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Stock Performance

The company has a 50 day moving average price of $25.72 and a two-hundred day moving average price of $25.61. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 10.02 and a beta of 0.73. Berkshire Hills Bancorp, Inc. has a 12-month low of $22.27 and a 12-month high of $32.36. 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 posted its earnings results on Thursday, July 24th. The savings and loans company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.11. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The firm had revenue of $113.67 million for the quarter, compared to analysts' expectations of $113.34 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. Berkshire Hills Bancorp's payout ratio is currently 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.