Voloridge Investment Management LLC Makes New Investment in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Voloridge Investment Management LLC bought a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 64,760 shares of the savings and loans company's stock, valued at approximately $1,841,000. Voloridge Investment Management LLC owned 0.15% of Berkshire Hills Bancorp as of its most recent SEC filing.

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

Berkshire Hills Bancorp Trading Down 1.3%

Shares of BHLB traded down $0.32 during trading on Monday, reaching $24.44. 65,796 shares of the company traded hands, compared to its average volume of 387,006. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.76 and a twelve month high of $32.36. The stock has a market cap of $1.13 billion, a PE ratio of 16.98 and a beta of 0.53. The stock has a 50-day simple moving average of $24.96 and a 200-day simple moving average of $27.39. 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 announced its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The firm had revenue of $110.44 million during the quarter, compared to analysts' expectations of $109.71 million. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

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

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued a "sector perform" rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.