Commonwealth Equity Services LLC reduced its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Rating) by 4.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 140,700 shares of the savings and loans company’s stock after selling 5,943 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Berkshire Hills Bancorp were worth $4,076,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. UMB Bank N A MO acquired a new stake in Berkshire Hills Bancorp in the fourth quarter worth $30,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Berkshire Hills Bancorp by 112.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,533 shares of the savings and loans company’s stock worth $44,000 after purchasing an additional 811 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Berkshire Hills Bancorp in the first quarter worth $87,000. Advisor Partners LLC acquired a new stake in Berkshire Hills Bancorp in the first quarter worth $206,000. Finally, American Century Companies Inc. acquired a new stake in Berkshire Hills Bancorp in the fourth quarter worth $205,000. 82.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Michael Zaitzeff sold 1,274,279 shares of Berkshire Hills Bancorp stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $24.70, for a total value of $31,474,691.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.
Analyst Upgrades and Downgrades
Berkshire Hills Bancorp Stock Up 1.1 %
Berkshire Hills Bancorp stock opened at $29.00 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 10.94 and a beta of 1.07. Berkshire Hills Bancorp, Inc. has a 1-year low of $23.15 and a 1-year high of $31.78. The company has a fifty day simple moving average of $25.84 and a 200 day simple moving average of $27.53. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.25.
Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last released its earnings results on Wednesday, July 20th. The savings and loans company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Berkshire Hills Bancorp had a net margin of 28.30% and a return on equity of 8.08%. During the same period in the prior year, the company earned $0.44 earnings per share. Research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.08 earnings per share for the current fiscal year.
Berkshire Hills Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, August 10th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 18.11%.
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. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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