Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Stock Position Increased by Barclays PLC

Barclays PLC boosted its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 105.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,380 shares of the savings and loans company’s stock after buying an additional 49,356 shares during the quarter. Barclays PLC owned 0.22% of Berkshire Hills Bancorp worth $2,595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Berkshire Hills Bancorp by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company’s stock valued at $60,024,000 after purchasing an additional 36,521 shares in the last quarter. State Street Corp boosted its holdings in Berkshire Hills Bancorp by 0.9% during the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after buying an additional 18,307 shares in the last quarter. Wellington Management Group LLP grew its position in Berkshire Hills Bancorp by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock worth $44,815,000 after buying an additional 293,784 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Berkshire Hills Bancorp by 13.7% in the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after buying an additional 114,433 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Berkshire Hills Bancorp by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company’s stock valued at $14,232,000 after acquiring an additional 38,327 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Trading Up 0.2 %

Shares of NYSE BHLB opened at $28.66 on Wednesday. The firm has a market capitalization of $1.23 billion, a PE ratio of 30.17 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a one year low of $20.50 and a one year high of $32.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $29.43 and a two-hundred day moving average price of $26.81.

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

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, November 14th. Berkshire Hills Bancorp’s dividend payout ratio is currently 75.79%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BHLB. Piper Sandler upgraded 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 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 stock a “market perform” rating in a report on Tuesday. Finally, Royal Bank of Canada cut their price target on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

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.