Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Bought by LSV Asset Management

LSV Asset Management grew its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 777.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 314,951 shares of the savings and loans company’s stock after purchasing an additional 279,071 shares during the period. LSV Asset Management owned approximately 0.72% of Berkshire Hills Bancorp worth $7,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Victory Capital Management Inc. acquired a new position in Berkshire Hills Bancorp during the fourth quarter worth $219,000. Private Advisor Group LLC acquired a new position in Berkshire Hills Bancorp during the 3rd quarter worth about $202,000. J.W. Cole Advisors Inc. purchased a new position in Berkshire Hills Bancorp during the 4th quarter valued at about $258,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Berkshire Hills Bancorp by 55.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock valued at $297,000 after acquiring an additional 4,287 shares in the last quarter. Finally, Berkshire Bank increased its stake in Berkshire Hills Bancorp by 15.5% during the third quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock worth $252,000 after purchasing an additional 1,691 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Berkshire Hills Bancorp Price Performance

Berkshire Hills Bancorp stock opened at $22.73 on Thursday. The business has a 50 day simple moving average of $21.89 and a 200-day simple moving average of $22.38. Berkshire Hills Bancorp, Inc. has a 12 month low of $18.31 and a 12 month high of $25.79. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $987.94 million, a PE ratio of 45.46 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. The firm had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. During the same period in the prior year, the company posted $0.63 earnings per share. Equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.06 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.17%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 144.00%.

Insider Activity

In other news, Director Michael Zaitzeff sold 20,718 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $22.73, for a total transaction of $470,920.14. Following the sale, the director now owns 156,209 shares of the company’s stock, valued at approximately $3,550,630.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Berkshire Hills Bancorp news, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Zaitzeff sold 20,718 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $22.73, for a total transaction of $470,920.14. Following the completion of the sale, the director now owns 156,209 shares in the company, valued at $3,550,630.57. The disclosure for this sale can be found here. Insiders sold 133,190 shares of company stock worth $3,000,611 in the last 90 days. 1.02% of the stock is currently owned by corporate insiders.

Berkshire Hills Bancorp 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.