Strs Ohio cut its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 41.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the savings and loans company’s stock after selling 11,000 shares during the period. Strs Ohio’s holdings in Berkshire Hills Bancorp were worth $563,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of BHLB. Vanguard Group Inc. raised its holdings in shares of Berkshire Hills Bancorp by 20.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock worth $109,814,000 after buying an additional 540,080 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $288,000. Peregrine Capital Management LLC acquired a new position in shares of Berkshire Hills Bancorp in the 3rd quarter worth approximately $10,514,000. Hillcrest Asset Management LLC acquired a new position in shares of Berkshire Hills Bancorp in the 3rd quarter worth approximately $8,344,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Berkshire Hills Bancorp by 6.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,215,961 shares of the savings and loans company’s stock worth $124,617,000 after buying an additional 192,322 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on BHLB. Zacks Investment Research cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. BidaskClub cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $39.50 target price on shares of Berkshire Hills Bancorp in a report on Sunday, October 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.30.
Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $115.66 million for the quarter, compared to analyst estimates of $115.50 million. Berkshire Hills Bancorp had a return on equity of 7.44% and a net margin of 11.37%. analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, February 14th. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. Berkshire Hills Bancorp’s dividend payout ratio is 56.76%.
In other Berkshire Hills Bancorp news, Director James Williar Dunlaevy sold 7,455 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $39.30, for a total value of $292,981.50. Following the transaction, the director now directly owns 67,747 shares in the company, valued at approximately $2,662,457.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Ryan acquired 3,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was purchased at an average price of $37.87 per share, for a total transaction of $113,610.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 13,438 shares of company stock worth $501,624. 2.82% of the stock is owned by corporate insiders.
Berkshire Hills Bancorp Company Profile
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.
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