20,931 Shares in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 20,931 shares of the savings and loans company’s stock, valued at approximately $595,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Berkshire Hills Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after buying an additional 18,307 shares during the period. Wellington Management Group LLP boosted its holdings in Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock valued at $44,815,000 after acquiring an additional 293,784 shares during the period. Systematic Financial Management LP grew its position in shares of Berkshire Hills Bancorp by 13.7% in the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after purchasing an additional 114,433 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Berkshire Hills Bancorp by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,307 shares of the savings and loans company’s stock valued at $12,035,000 after purchasing an additional 15,383 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Berkshire Hills Bancorp by 28.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company’s stock worth $9,175,000 after purchasing an additional 75,476 shares during the period. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of NYSE:BHLB opened at $26.63 on Friday. The firm has a market capitalization of $1.23 billion, a PE ratio of 18.49 and a beta of 0.85. 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 1-year low of $20.50 and a 1-year high of $32.36. The business’s 50 day moving average is $28.02 and its 200-day moving average is $28.26.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Insiders Place Their Bets

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

BHLB has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods boosted their target price on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research report on Tuesday, December 24th. Finally, Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Berkshire Hills Bancorp 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.