BHLB has been the topic of a number of other reports. Piper Sandler upgraded Berkshire Hills Bancorp from an underweight rating to a neutral rating and set a $24.00 price objective on the stock in a research note on Wednesday, January 10th. Royal Bank of Canada dropped their price objective on shares of Berkshire Hills Bancorp from $23.00 to $22.00 and set a sector perform rating on the stock in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $25.67.
Berkshire Hills Bancorp Trading Up 0.3 %
Berkshire Hills Bancorp (NYSE:BHLB – Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Berkshire Hills Bancorp had a net margin of 16.54% and a return on equity of 10.45%. The company had revenue of $142.15 million during the quarter, compared to the consensus estimate of $109.05 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Analysts forecast that Berkshire Hills Bancorp will post 2.18 EPS for the current year.
Berkshire Hills Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Wednesday, November 15th. Berkshire Hills Bancorp’s payout ratio is currently 31.03%.
Insider Buying and Selling at Berkshire Hills Bancorp
In other news, Director Mary Anne Callahan bought 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average price of $20.60 per share, for a total transaction of $41,200.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $206,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.83% of the company’s stock.
Institutional Trading of Berkshire Hills Bancorp
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Berkshire Hills Bancorp by 22.4% during the 1st quarter. American Century Companies Inc. now owns 8,833 shares of the savings and loans company’s stock valued at $256,000 after purchasing an additional 1,617 shares during the last quarter. Private Advisor Group LLC boosted its stake in Berkshire Hills Bancorp by 16.2% in the 1st quarter. Private Advisor Group LLC now owns 8,357 shares of the savings and loans company’s stock worth $242,000 after purchasing an additional 1,162 shares during the period. Citigroup Inc. boosted its position in shares of Berkshire Hills Bancorp by 2.9% during the 1st quarter. Citigroup Inc. now owns 47,577 shares of the savings and loans company’s stock valued at $1,378,000 after acquiring an additional 1,329 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Berkshire Hills Bancorp by 14.9% during the 1st quarter. Natixis Advisors L.P. now owns 14,862 shares of the savings and loans company’s stock valued at $431,000 after acquiring an additional 1,932 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Berkshire Hills Bancorp by 66.2% during the 1st quarter. Bank of Montreal Can now owns 31,848 shares of the savings and loans company’s stock valued at $936,000 after acquiring an additional 12,684 shares during the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.
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. It offers various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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