Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 60.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 422,621 shares of the savings and loans company’s stock after acquiring an additional 159,200 shares during the period. Renaissance Technologies LLC owned approximately 0.98% of Berkshire Hills Bancorp worth $9,636,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. ProShare Advisors LLC grew its stake in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after purchasing an additional 601 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Berkshire Hills Bancorp by 0.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company’s stock valued at $2,815,000 after acquiring an additional 876 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Berkshire Hills Bancorp by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,988 shares of the savings and loans company’s stock worth $734,000 after acquiring an additional 1,753 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Berkshire Hills Bancorp by 4.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,819 shares of the savings and loans company’s stock worth $1,142,000 after acquiring an additional 2,278 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Berkshire Hills Bancorp by 47.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,858 shares of the savings and loans company’s stock valued at $270,000 after purchasing an additional 3,789 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

NYSE:BHLB opened at $27.22 on Tuesday. Berkshire Hills Bancorp, Inc. has a 1-year low of $18.31 and a 1-year high of $28.51. The firm has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $23.74. The firm has a market cap of $1.18 billion, a PE ratio of 54.44 and a beta of 0.86. 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 issued its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $174.24 million for the quarter, compared to analyst estimates of $108.46 million. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. During the same quarter in the prior year, the company posted $0.55 EPS. On average, equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.1 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Janney Montgomery Scott lowered 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 report on Wednesday, July 24th. Finally, Hovde Group raised their price objective on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp presently has an average rating of “Hold” and an average price target of $26.80.

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.