Invesco Ltd. raised its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 20.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,291,547 shares of the savings and loans company's stock after purchasing an additional 222,162 shares during the period. Invesco Ltd. owned about 3.00% of Berkshire Hills Bancorp worth $36,719,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Berkshire Hills Bancorp by 282.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after acquiring an additional 821 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Berkshire Hills Bancorp by 2,259.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company's stock worth $64,000 after purchasing an additional 2,169 shares in the last quarter. KBC Group NV raised its position in shares of Berkshire Hills Bancorp by 57.8% during the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock worth $82,000 after purchasing an additional 1,051 shares during the last quarter. Plimoth Trust Co. LLC purchased a new stake in Berkshire Hills Bancorp in the 4th quarter valued at approximately $204,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Berkshire Hills Bancorp during the 4th quarter valued at $256,000. Hedge funds and other institutional investors own 83.07% of the company's stock.
Berkshire Hills Bancorp Trading Up 2.4 %
Shares of NYSE:BHLB traded up $0.57 during midday trading on Tuesday, reaching $23.92. The company's stock had a trading volume of 515,339 shares, compared to its average volume of 358,129. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 16.61 and a beta of 0.58. The business has a 50 day moving average price of $25.99 and a 200 day moving average price of $27.91. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.76 and a 1 year high of $32.36. 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 results on Thursday, January 30th. The savings and loans company reported $0.60 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%. Research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.
Berkshire Hills Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp's dividend payout ratio (DPR) is 50.00%.
Insiders Place Their Bets
In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently issued reports on BHLB shares. Royal Bank of Canada restated a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a "market perform" rating in a research note on Tuesday, December 24th. Four 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $31.13.
View Our Latest Research Report on BHLB
Berkshire Hills Bancorp Profile
(
Free Report)
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.
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