Berkshire Hills Bancorp, Inc. $BHLB Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly reduced its stake in Berkshire Hills Bancorp by 57.0%, selling 599,336 shares and holding 452,814 shares worth approximately $11.81 million as of the latest SEC filing.
• Berkshire Hills Bancorp's quarterly earnings exceeded expectations, reporting an EPS of $0.69, which is higher than the consensus estimate of $0.58, and a revenue of $113.67 million, marking a 4.6% year-over-year increase.
• The company recently declared a $0.18 quarterly dividend, resulting in an annualized yield of 2.7%, indicating its commitment to returning value to shareholders.

Wellington Management Group LLP decreased its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 57.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,814 shares of the savings and loans company's stock after selling 599,336 shares during the period. Wellington Management Group LLP owned 0.98% of Berkshire Hills Bancorp worth $11,814,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Quarry LP grew its stake in Berkshire Hills Bancorp by 142.7% in the 4th quarter. Quarry LP now owns 1,291 shares of the savings and loans company's stock worth $37,000 after buying an additional 759 shares in the last quarter. Meeder Asset Management Inc. boosted its position in 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 valued at $36,000 after buying an additional 779 shares during the period. CWM LLC boosted its position in Berkshire Hills Bancorp by 508.7% during the 1st 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 period. Man Group plc purchased a new stake in Berkshire Hills Bancorp during the 4th quarter valued at $216,000. Finally, Algert Global LLC purchased a new stake in Berkshire Hills Bancorp during the 4th quarter valued at $237,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Down 0.7%

Shares of Berkshire Hills Bancorp stock traded down $0.20 during trading on Monday, hitting $26.11. The company's stock had a trading volume of 2,575,853 shares, compared to its average volume of 537,896. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day simple moving average of $25.68 and a two-hundred day simple moving average of $25.63. The company has a market capitalization of $1.21 billion, a PE ratio of 10.20 and a beta of 0.73. Berkshire Hills Bancorp, Inc. has a 52 week low of $22.27 and a 52 week high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.69 earnings per share (EPS) 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 company had revenue of $113.67 million for the quarter, compared to the consensus estimate of $113.34 million. During the same quarter last year, the firm posted $0.55 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. Berkshire Hills Bancorp's payout ratio is 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.