Bank of New York Mellon Corp Has $12.77 Million Stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Bank of New York Mellon Corp lessened its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 449,009 shares of the savings and loans company’s stock after selling 15,175 shares during the period. Bank of New York Mellon Corp owned about 1.04% of Berkshire Hills Bancorp worth $12,765,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Berkshire Hills Bancorp by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 204,481 shares of the savings and loans company’s stock worth $5,813,000 after purchasing an additional 5,500 shares in the last quarter. Rhumbline Advisers lifted its position in Berkshire Hills Bancorp by 2.2% during the fourth quarter. Rhumbline Advisers now owns 129,923 shares of the savings and loans company’s stock worth $3,694,000 after purchasing an additional 2,763 shares during the period. Empowered Funds LLC lifted its position in Berkshire Hills Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 144,832 shares of the savings and loans company’s stock worth $4,118,000 after purchasing an additional 7,012 shares during the period. Plimoth Trust Co. LLC acquired a new stake in Berkshire Hills Bancorp during the fourth quarter worth about $204,000. Finally, KBC Group NV increased its holdings in Berkshire Hills Bancorp by 57.8% in the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock valued at $82,000 after buying an additional 1,051 shares during the period. 83.07% of the stock is owned by institutional investors.

Insider Activity

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by company insiders.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock opened at $26.04 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. Berkshire Hills Bancorp, Inc. has a one year low of $20.50 and a one year high of $32.36. The business’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $28.35. The stock has a market capitalization of $1.21 billion, a PE ratio of 18.08 and a beta of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating 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%. As a group, research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 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, March 6th. Stockholders of record on Thursday, February 20th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio is 50.00%.

Wall Street Analysts Forecast Growth

BHLB has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Seaport Res Ptn upgraded 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 shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research report on Tuesday, December 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Berkshire Hills Bancorp has a consensus rating of “Moderate Buy” and an average price target 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.