Peregrine Capital Management LLC Buys New Holdings in Berkshire Hills Bancorp, Inc. (BHLB)

Peregrine Capital Management LLC bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 271,329 shares of the savings and loans company’s stock, valued at approximately $10,514,000. Peregrine Capital Management LLC owned about 0.68% of Berkshire Hills Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of BHLB. New York State Teachers Retirement System lifted its holdings in shares of Berkshire Hills Bancorp by 7.4% during the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after buying an additional 200 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Berkshire Hills Bancorp by 4.3% during the second quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock worth $182,000 after buying an additional 212 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 0.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,800 shares of the savings and loans company’s stock worth $1,821,000 after buying an additional 300 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 11.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock worth $110,000 after buying an additional 318 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 4.8% during the second quarter. PNC Financial Services Group Inc. now owns 8,690 shares of the savings and loans company’s stock worth $306,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 74.31% of the company’s stock.

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Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.13% and a net margin of 15.54%. The company had revenue of $100.83 million during the quarter, compared to the consensus estimate of $107.60 million.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.19%. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.16%.

In other news, Director Richard L. Murphy purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $34.25 per share, with a total value of $34,250.00. Following the acquisition, the director now owns 9,668 shares in the company, valued at approximately $331,129. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard M. Marotta sold 9,500 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the executive vice president now directly owns 28,523 shares of the company’s stock, valued at $950,386.36. The disclosure for this sale can be found here. Insiders own 2.82% of the company’s stock.

A number of research analysts have recently commented on BHLB shares. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub upgraded Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $39.50 price target on shares of Berkshire Hills Bancorp in a report on Sunday, October 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.92.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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