Exchange Traded Concepts LLC Acquires New Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Exchange Traded Concepts LLC bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,058 shares of the savings and loans company’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LSV Asset Management increased its stake in Berkshire Hills Bancorp by 116.2% in the 1st quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock valued at $15,606,000 after buying an additional 365,952 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Berkshire Hills Bancorp in the second quarter valued at about $6,330,000. Renaissance Technologies LLC raised its holdings in Berkshire Hills Bancorp by 60.4% during the second quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock worth $9,636,000 after acquiring an additional 159,200 shares in the last quarter. Millennium Management LLC raised its holdings in Berkshire Hills Bancorp by 126.0% during the second quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock worth $4,186,000 after acquiring an additional 102,384 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Berkshire Hills Bancorp by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company’s stock valued at $35,422,000 after purchasing an additional 43,822 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Janney Montgomery Scott downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Monday, July 22nd. StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Hovde Group upped their target price on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.80.

Berkshire Hills Bancorp Price Performance

NYSE:BHLB opened at $28.04 on Monday. The company has a market cap of $1.21 billion, a P/E ratio of 56.08 and a beta of 0.86. The firm’s fifty day moving average price is $26.73 and its two-hundred day moving average price is $24.36. Berkshire Hills Bancorp, Inc. has a one year low of $18.31 and a one year high of $28.51. The company has a debt-to-equity ratio of 0.28, 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, July 18th. The savings and loans company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The business had revenue of $174.24 million for the quarter, compared to analyst estimates of $108.46 million. During the same quarter in the prior year, the business earned $0.55 EPS. Equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.12 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

About Berkshire Hills Bancorp

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.