UBS Asset Management Americas Inc. cut its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,627 shares of the savings and loans company’s stock after selling 4,033 shares during the period. UBS Asset Management Americas Inc.’s holdings in Berkshire Hills Bancorp were worth $465,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Round Hill Asset Management bought a new stake in Berkshire Hills Bancorp during the fourth quarter valued at $238,000. GSA Capital Partners LLP boosted its stake in Berkshire Hills Bancorp by 18.8% in the fourth quarter. GSA Capital Partners LLP now owns 10,057 shares of the savings and loans company’s stock valued at $371,000 after buying an additional 1,593 shares during the period. BlackRock Inc. raised its position in Berkshire Hills Bancorp by 65.8% in the third quarter. BlackRock Inc. now owns 13,806 shares of the savings and loans company’s stock valued at $383,000 after buying an additional 5,480 shares in the last quarter. Teton Advisors Inc. raised its position in Berkshire Hills Bancorp by 14.5% in the fourth quarter. Teton Advisors Inc. now owns 14,246 shares of the savings and loans company’s stock valued at $525,000 after buying an additional 1,800 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $556,000. Institutional investors and hedge funds own 63.90% of the company’s stock.
Berkshire Hills Bancorp, Inc. (BHLB) traded down 1.174% during trading on Tuesday, hitting $35.775. 48,064 shares of the company’s stock were exchanged. Berkshire Hills Bancorp, Inc. has a 12-month low of $24.80 and a 12-month high of $38.65. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 19.875 and a beta of 0.60. The company’s 50-day moving average price is $36.57 and its 200 day moving average price is $35.82.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Monday, April 24th. The savings and loans company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $101.64 million for the quarter, compared to analyst estimates of $95.90 million. Berkshire Hills Bancorp had a return on equity of 7.05% and a net margin of 15.39%. Equities analysts forecast that Berkshire Hills Bancorp, Inc. will post $2.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, May 9th. Berkshire Hills Bancorp’s payout ratio is 46.41%.
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A number of equities research analysts have issued reports on BHLB shares. FIG Partners raised shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $38.00 target price on shares of Berkshire Hills Bancorp in a research note on Monday, May 15th. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 target price on shares of Berkshire Hills Bancorp in a report on Wednesday, May 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.80.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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