234,665 Shares in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 234,665 shares of the savings and loans company’s stock, valued at approximately $6,672,000. Assenagon Asset Management S.A. owned about 0.55% of Berkshire Hills Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter worth approximately $34,000. nVerses Capital LLC boosted its holdings in shares of Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after acquiring an additional 1,400 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Berkshire Hills Bancorp by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock worth $134,000 after acquiring an additional 2,169 shares during the last quarter. Joel Isaacson & Co. LLC acquired a new stake in Berkshire Hills Bancorp during the 3rd quarter valued at $211,000. Finally, Victory Capital Management Inc. bought a new position in Berkshire Hills Bancorp in the 3rd quarter valued at $215,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Down 0.1 %

Shares of NYSE BHLB opened at $28.48 on Monday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 29.97 and a beta of 0.89. The stock’s fifty day moving average is $29.48 and its 200 day moving average is $27.63. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. Berkshire Hills Bancorp’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Sell-side analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.18 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.53%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 75.79%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BHLB. Keefe, Bruyette & Woods upped their price objective on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a report on Tuesday, December 24th. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Royal Bank of Canada lowered their price objective on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Berkshire Hills Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

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.