OppenheimerFunds Inc. boosted its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.7% during the first quarter, Holdings Channel reports. The firm owned 426,596 shares of the savings and loans company’s stock after buying an additional 15,274 shares during the period. OppenheimerFunds Inc. owned 1.21% of Berkshire Hills Bancorp worth $15,379,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Berkshire Hills Bancorp by 66.0% in the fourth quarter. AQR Capital Management LLC now owns 54,749 shares of the savings and loans company’s stock valued at $2,017,000 after buying an additional 21,759 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Berkshire Hills Bancorp by 1.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,135 shares of the savings and loans company’s stock valued at $816,000 after buying an additional 329 shares during the period. Tudor Investment Corp Et Al raised its position in Berkshire Hills Bancorp by 13.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 24,909 shares of the savings and loans company’s stock valued at $918,000 after buying an additional 2,876 shares during the period. GSA Capital Partners LLP raised its position in Berkshire Hills Bancorp by 18.8% in the fourth quarter. GSA Capital Partners LLP now owns 10,057 shares of the savings and loans company’s stock valued at $371,000 after buying an additional 1,593 shares during the period. Finally, A.R.T. Advisors LLC purchased a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $556,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

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

Berkshire Hills Bancorp, Inc. (BHLB) traded down 0.27% during mid-day trading on Friday, reaching $37.05. 397,266 shares of the company’s stock traded hands. The stock’s 50 day moving average is $36.61 and its 200-day moving average is $35.79. Berkshire Hills Bancorp, Inc. has a 52 week low of $24.80 and a 52 week high of $38.65. The stock has a market capitalization of $1.31 billion, a PE ratio of 20.58 and a beta of 0.60.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Monday, April 24th. The savings and loans company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $101.64 million for the quarter, compared to analysts’ expectations of $95.90 million. Berkshire Hills Bancorp had a net margin of 15.39% and a return on equity of 7.05%. On average, equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post $2.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th were issued a $0.21 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.27%. Berkshire Hills Bancorp’s payout ratio is 46.41%.

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Several research firms recently commented on BHLB. Jefferies Group LLC reiterated a “hold” rating and set a $38.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, May 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 price objective on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 3rd. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, FIG Partners upgraded shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 23rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.80.

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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