Voloridge Investment Management LLC Purchases Shares of 64,760 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Voloridge Investment Management LLC purchased a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 64,760 shares of the savings and loans company's stock, valued at approximately $1,841,000. Voloridge Investment Management LLC owned approximately 0.15% of Berkshire Hills Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC increased its position in Berkshire Hills Bancorp by 105.0% during the third quarter. Barclays PLC now owns 96,380 shares of the savings and loans company's stock worth $2,595,000 after purchasing an additional 49,356 shares during the last quarter. KBC Group NV grew its stake in shares of Berkshire Hills Bancorp by 57.8% in the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock valued at $82,000 after buying an additional 1,051 shares during the period. Plimoth Trust Co. LLC purchased a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at approximately $204,000. Empowered Funds LLC increased its holdings in shares of Berkshire Hills Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 144,832 shares of the savings and loans company's stock worth $4,118,000 after buying an additional 7,012 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Berkshire Hills Bancorp by 2.2% during the 4th quarter. Rhumbline Advisers now owns 129,923 shares of the savings and loans company's stock valued at $3,694,000 after buying an additional 2,763 shares during the period. Institutional investors and hedge funds own 83.07% of the company's stock.

Berkshire Hills Bancorp Trading Down 1.3%

NYSE:BHLB traded down $0.33 during trading hours on Monday, reaching $24.44. 667,308 shares of the stock were exchanged, compared to its average volume of 389,389. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.76 and a twelve month high of $32.36. The business has a 50-day moving average of $24.91 and a two-hundred day moving average of $27.35. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 16.97 and a beta of 0.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $109.71 million. During the same quarter in the previous year, the business earned $0.49 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.95%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is presently 29.15%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated a "sector perform" rating and issued a $31.00 price objective 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Berkshire Hills Bancorp has an average rating of "Moderate Buy" and an average price target of $31.13.

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.