Berkshire Hills Bancorp, Inc. (BHLB) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC grew its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,039 shares of the savings and loans company’s stock after buying an additional 9,488 shares during the period. Parametric Portfolio Associates LLC owned 0.21% of Berkshire Hills Bancorp worth $2,708,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in Berkshire Hills Bancorp by 7.4% during the 1st quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC acquired a new stake in Berkshire Hills Bancorp during the 1st quarter worth $109,000. Quantbot Technologies LP acquired a new stake in Berkshire Hills Bancorp during the 2nd quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Berkshire Hills Bancorp by 263.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 2,500 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Berkshire Hills Bancorp by 129.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the savings and loans company’s stock worth $154,000 after purchasing an additional 2,471 shares during the period. Institutional investors and hedge funds own 74.31% of the company’s stock.
Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) opened at $38.30 on Friday. Berkshire Hills Bancorp, Inc. has a 52 week low of $29.35 and a 52 week high of $40.00. The company has a market cap of $1,548.24, a price-to-earnings ratio of 16.80 and a beta of 0.69. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.31.
Berkshire Hills Bancorp (NYSE:BHLB) last released 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 net margin of 15.54% and a return on equity of 7.13%. The company had revenue of $100.83 million during the quarter, compared to analysts’ expectations of $107.60 million. equities research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.29 earnings per share for the current fiscal year.
The company 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 $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 8th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 45.16%.
In other news, insider Michael P. Daly sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $33.78, for a total value of $844,500.00. Following the completion of the sale, the insider now owns 103,670 shares in the company, valued at approximately $3,501,972.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard L. Murphy bought 1,000 shares of Berkshire Hills Bancorp stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $34.25 per share, with a total value of $34,250.00. Following the purchase, the director now directly owns 9,668 shares in the company, valued at approximately $331,129. The disclosure for this purchase can be found here. 2.82% of the stock is currently owned by company insiders.
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BHLB has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, September 25th. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $41.00 price target on shares of Berkshire Hills Bancorp in a research note on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $39.50 price target on shares of Berkshire Hills Bancorp in a research note on Sunday, October 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $38.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Berkshire Hills Bancorp currently has an average rating of “Hold” and a consensus price target 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.
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