Jacobs Asset Management LLC Purchases Shares of 137,931 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Jacobs Asset Management LLC bought a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 137,931 shares of the savings and loans company's stock, valued at approximately $3,921,000. Berkshire Hills Bancorp accounts for about 2.4% of Jacobs Asset Management LLC's investment portfolio, making the stock its 18th largest position. Jacobs Asset Management LLC owned approximately 0.32% of Berkshire Hills Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. increased its position in Berkshire Hills Bancorp by 1.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 345,646 shares of the savings and loans company's stock worth $9,827,000 after purchasing an additional 4,952 shares during the period. Jefferies Financial Group Inc. acquired a new position in Berkshire Hills Bancorp during the 4th quarter worth approximately $358,000. Graham Capital Management L.P. acquired a new position in Berkshire Hills Bancorp during the 4th quarter worth approximately $1,006,000. FJ Capital Management LLC acquired a new position in Berkshire Hills Bancorp during the 4th quarter worth approximately $2,189,000. Finally, Deutsche Bank AG boosted its stake in shares of Berkshire Hills Bancorp by 46.5% during the 4th quarter. Deutsche Bank AG now owns 37,581 shares of the savings and loans company's stock worth $1,068,000 after acquiring an additional 11,932 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Berkshire Hills Bancorp Price Performance

Shares of NYSE:BHLB traded down $0.13 during trading on Wednesday, hitting $26.65. 38,578 shares of the stock were exchanged, compared to its average volume of 376,445. The company has a fifty day moving average price of $25.12 and a two-hundred day moving average price of $27.72. The company has a market cap of $1.24 billion, a PE ratio of 18.51 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp, Inc. has a 12-month low of $20.76 and a 12-month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its earnings results on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.06. The firm had revenue of $110.44 million for the quarter, compared to analyst estimates of $109.71 million. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Berkshire Hills Bancorp's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, analysts forecast 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 will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 2.70%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is presently 29.15%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a "sector perform" rating and set 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 given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Berkshire Hills Bancorp has a consensus rating of "Moderate Buy" and an average target price 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.