Tower Research Capital LLC TRC Sells 1,432 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Tower Research Capital LLC TRC lessened its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 27.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,774 shares of the savings and loans company’s stock after selling 1,432 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Berkshire Hills Bancorp were worth $107,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in Berkshire Hills Bancorp by 105.0% in the third quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock valued at $2,595,000 after acquiring an additional 49,356 shares during the period. Amundi raised its holdings in shares of Berkshire Hills Bancorp by 187.0% in the 4th quarter. Amundi now owns 20,470 shares of the savings and loans company’s stock worth $571,000 after buying an additional 13,337 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Berkshire Hills Bancorp by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock worth $5,135,000 after buying an additional 72,402 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Berkshire Hills Bancorp by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,307 shares of the savings and loans company’s stock valued at $12,035,000 after buying an additional 15,383 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after acquiring an additional 821 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Up 1.5 %

NYSE BHLB opened at $25.67 on Friday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 17.83 and a beta of 0.53. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.76 and a 52 week high of $32.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $25.16 and a 200-day moving average of $27.74.

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

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, May 15th. Berkshire Hills Bancorp’s dividend payout ratio is presently 29.15%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Insider Buying and Selling at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

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.