Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Purchased by Grace & White Inc. NY

Grace & White Inc. NY increased its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 199,349 shares of the savings and loans company’s stock after acquiring an additional 17,000 shares during the period. Grace & White Inc. NY’s holdings in Berkshire Hills Bancorp were worth $4,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. J.W. Cole Advisors Inc. acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth approximately $258,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Berkshire Hills Bancorp by 55.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock worth $297,000 after purchasing an additional 4,287 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth approximately $534,000. Raymond James & Associates increased its position in Berkshire Hills Bancorp by 3.1% during the 4th quarter. Raymond James & Associates now owns 17,843 shares of the savings and loans company’s stock worth $443,000 after purchasing an additional 541 shares in the last quarter. Finally, Ziegler Capital Management LLC increased its position in Berkshire Hills Bancorp by 6.9% during the 4th quarter. Ziegler Capital Management LLC now owns 30,221 shares of the savings and loans company’s stock worth $750,000 after purchasing an additional 1,957 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Up 2.3 %

Shares of Berkshire Hills Bancorp stock traded up $0.49 on Tuesday, hitting $22.25. 282,065 shares of the company’s stock traded hands, compared to its average volume of 241,775. The stock has a market cap of $966.99 million, a P/E ratio of 44.50 and a beta of 0.87. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $21.88 and its 200 day moving average is $22.24. Berkshire Hills Bancorp, Inc. has a 52-week low of $18.07 and a 52-week high of $25.79.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same period in the prior year, the business posted $0.63 EPS. Equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.05 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. Piper Sandler upgraded Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Wednesday, January 10th. StockNews.com cut Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Keefe, Bruyette & Woods upped their price target on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Finally, Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, Berkshire Hills Bancorp presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity at Berkshire Hills Bancorp

In related news, Director Michael Zaitzeff sold 51,910 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $25.18, for a total transaction of $1,307,093.80. Following the sale, the director now directly owns 2,665 shares of the company’s stock, valued at approximately $67,104.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Berkshire Hills Bancorp news, Director Baye Adofo-Wilson sold 10,074 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Zaitzeff sold 51,910 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $25.18, for a total value of $1,307,093.80. Following the completion of the sale, the director now owns 2,665 shares in the company, valued at $67,104.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,788 shares of company stock valued at $5,239,449. Corporate insiders own 1.02% of the company’s stock.

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.