US Bancorp DE Sells 15,621 Shares of Berkshire Hills Bancorp, Inc. $BHLB

Key Points

• US Bancorp DE has significantly reduced its holdings in Berkshire Hills Bancorp, decreasing its position by 74.3% during Q1 to approximately $141,000 after selling 15,621 shares.
• Berkshire Hills Bancorp reported $0.69 EPS for its recent quarter, surpassing analyst expectations of $0.58 and showing a year-over-year revenue increase of 4.6%.
• The company plans to distribute a quarterly dividend of $0.18 per share, translating to an annualized yield of 2.9%, with the ex-dividend date set for August 14th.

US Bancorp DE cut its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 74.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,396 shares of the savings and loans company's stock after selling 15,621 shares during the quarter. US Bancorp DE's holdings in Berkshire Hills Bancorp were worth $141,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its stake in shares of Berkshire Hills Bancorp by 130.9% during the 1st quarter. Meeder Asset Management Inc. now owns 1,374 shares of the savings and loans company's stock worth $36,000 after acquiring an additional 779 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Berkshire Hills Bancorp by 81.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,326 shares of the savings and loans company's stock valued at $635,000 after purchasing an additional 10,903 shares during the period. Wakefield Asset Management LLLP raised its holdings in Berkshire Hills Bancorp by 8.0% during the 1st quarter. Wakefield Asset Management LLLP now owns 39,689 shares of the savings and loans company's stock worth $1,035,000 after buying an additional 2,951 shares during the period. Fagan Associates Inc. acquired a new stake in Berkshire Hills Bancorp during the 1st quarter worth about $835,000. Finally, Allianz Asset Management GmbH lifted its stake in Berkshire Hills Bancorp by 153.6% during the first quarter. Allianz Asset Management GmbH now owns 31,700 shares of the savings and loans company's stock valued at $827,000 after buying an additional 19,200 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Up 0.4%

BHLB stock traded up $0.1120 during mid-day trading on Tuesday, hitting $25.3020. The stock had a trading volume of 433,338 shares, compared to its average volume of 483,395. Berkshire Hills Bancorp, Inc. has a 1-year low of $22.27 and a 1-year high of $32.36. The company has a fifty day moving average of $25.39 and a 200 day moving average of $25.87. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.88 and a beta of 0.66.

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

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is 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 currently 28.13%.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada restated a "sector perform" rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Monday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Berkshire Hills Bancorp currently has an average rating of "Buy" and a consensus target price of $32.75.

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.