Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,426,599 shares of the savings and loans company’s stock after buying an additional 43,822 shares during the period. Wellington Management Group LLP owned approximately 3.27% of Berkshire Hills Bancorp worth $35,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James & Associates lifted its stake in shares of Berkshire Hills Bancorp by 3.1% during the fourth quarter. Raymond James & Associates now owns 17,843 shares of the savings and loans company’s stock worth $443,000 after buying an additional 541 shares during the period. Private Advisor Group LLC lifted its position in Berkshire Hills Bancorp by 8.0% during the fourth quarter. Private Advisor Group LLC now owns 10,884 shares of the savings and loans company’s stock valued at $270,000 after purchasing an additional 806 shares during the period. Ziegler Capital Management LLC lifted its position in Berkshire Hills Bancorp by 6.9% during the fourth quarter. Ziegler Capital Management LLC now owns 30,221 shares of the savings and loans company’s stock valued at $750,000 after purchasing an additional 1,957 shares during the period. LPL Financial LLC lifted its position in Berkshire Hills Bancorp by 1.0% during the third quarter. LPL Financial LLC now owns 208,947 shares of the savings and loans company’s stock valued at $4,189,000 after purchasing an additional 2,115 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Berkshire Hills Bancorp by 55.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock valued at $297,000 after purchasing an additional 4,287 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Five analysts have rated the stock with a hold rating, According to MarketBeat, Berkshire Hills Bancorp currently has an average rating of “Hold” and a consensus price target of $25.00.

Berkshire Hills Bancorp Trading Down 0.6 %

Shares of Berkshire Hills Bancorp stock opened at $21.23 on Monday. The firm has a 50-day simple moving average of $21.99 and a two-hundred day simple moving average of $22.70. The company has a market cap of $919.05 million, a P/E ratio of 42.46 and a beta of 0.89. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $18.31 and a fifty-two week high of $25.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $169.32 million during the quarter, compared to the consensus estimate of $107.89 million. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.06 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.39%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 144.00%.

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.