Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 962.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,779 shares of the savings and loans company’s stock after buying an additional 162,850 shares during the quarter. Hsbc Holdings PLC owned 0.42% of Berkshire Hills Bancorp worth $5,077,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Berkshire Hills Bancorp by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock worth $376,000 after buying an additional 382 shares in the last quarter. Bank of Montreal Can lifted its holdings in Berkshire Hills Bancorp by 7.2% in the 4th quarter. Bank of Montreal Can now owns 10,292 shares of the savings and loans company’s stock worth $293,000 after buying an additional 690 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Berkshire Hills Bancorp by 282.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after purchasing an additional 821 shares in the last quarter. KBC Group NV raised its stake in shares of 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 purchasing an additional 1,051 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Berkshire Hills Bancorp by 805.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company’s stock valued at $39,000 after purchasing an additional 1,224 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Up 1.0 %

Shares of Berkshire Hills Bancorp stock opened at $24.92 on Tuesday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 17.31 and a beta of 0.58. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.76 and a twelve month high of $32.36. 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 business’s 50 day simple moving average is $25.62 and its 200-day simple moving average is $27.88.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $110.44 million for the quarter, compared to the consensus estimate of $109.71 million. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. Equities research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 29.15%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a research note on Monday. 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 company’s stock. According to data from MarketBeat, Berkshire Hills Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

Insider Buying and Selling

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.02% of the company’s stock.

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.