Proficio Capital Partners LLC Buys Shares of 28,913 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Proficio Capital Partners LLC bought a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 28,913 shares of the savings and loans company’s stock, valued at approximately $822,000. Proficio Capital Partners LLC owned approximately 0.07% of Berkshire Hills Bancorp as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in shares of Berkshire Hills Bancorp during the 3rd quarter valued at $215,000. Empowered Funds LLC boosted its holdings in shares of Berkshire Hills Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 137,820 shares of the savings and loans company’s stock valued at $3,711,000 after acquiring an additional 6,968 shares in the last quarter. FMR LLC boosted its holdings in shares of Berkshire Hills Bancorp by 3.3% during the 3rd quarter. FMR LLC now owns 15,411 shares of the savings and loans company’s stock valued at $415,000 after acquiring an additional 496 shares in the last quarter. BNP Paribas Financial Markets raised its position in Berkshire Hills Bancorp by 37.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 37,071 shares of the savings and loans company’s stock worth $998,000 after purchasing an additional 10,022 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Berkshire Hills Bancorp by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company’s stock worth $361,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Trading Down 0.5 %

NYSE:BHLB opened at $26.53 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.23 billion, a PE ratio of 18.42 and a beta of 0.85. The firm’s 50 day moving average is $28.52 and its 200 day moving average is $28.34. Berkshire Hills Bancorp, Inc. has a 12 month low of $20.50 and a 12 month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 EPS 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 expect that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a $0.18 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.72 annualized dividend and a dividend yield of 2.71%. Berkshire Hills Bancorp’s payout ratio is currently 50.00%.

Insider Transactions at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods raised their target price on 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, Seaport Res Ptn raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Berkshire Hills Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $31.13.

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.