Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,552 shares of the savings and loans company’s stock after selling 2,072 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Berkshire Hills Bancorp were worth $361,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates raised its holdings in 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 purchasing an additional 541 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Berkshire Hills Bancorp by 8.0% in the 4th quarter. Private Advisor Group LLC now owns 10,884 shares of the savings and loans company’s stock valued at $270,000 after buying an additional 806 shares during the period. Ziegler Capital Management LLC boosted its stake in shares of Berkshire Hills Bancorp by 6.9% in 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 buying an additional 1,957 shares in the last quarter. LPL Financial LLC grew its holdings 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 worth $4,189,000 after acquiring an additional 2,115 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Berkshire Hills Bancorp by 55.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock worth $297,000 after acquiring an additional 4,287 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

NYSE BHLB opened at $22.80 on Friday. The business has a 50 day moving average price of $22.09 and a 200 day moving average price of $22.67. The company has a market capitalization of $987.01 million, a P/E ratio of 45.60 and a beta of 0.89. Berkshire Hills Bancorp, Inc. has a 1-year low of $18.31 and a 1-year high of $25.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. The business had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. During the same quarter last year, the business posted $0.63 earnings per share. Sell-side analysts expect that Berkshire Hills Bancorp, Inc. will post 2.06 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, June 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 144.00%.

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 research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

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.