Mackay Shields LLC increased its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 15.1% in the second quarter, Holdings Channel reports. The institutional investor owned 97,624 shares of the savings and loans company’s stock after purchasing an additional 12,800 shares during the quarter. Mackay Shields LLC’s holdings in Berkshire Hills Bancorp were worth $3,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BHLB. Mount Yale Investment Advisors LLC acquired a new position in Berkshire Hills Bancorp during the first quarter valued at approximately $115,000. SG Americas Securities LLC acquired a new position in Berkshire Hills Bancorp during the first quarter valued at approximately $159,000. Amalgamated Bank acquired a new position in Berkshire Hills Bancorp during the first quarter valued at approximately $201,000. Crossmark Global Holdings Inc. acquired a new position in Berkshire Hills Bancorp during the second quarter valued at approximately $203,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Berkshire Hills Bancorp during the first quarter valued at approximately $209,000. 70.91% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on BHLB shares. Piper Jaffray Companies cut shares of Berkshire Hills Bancorp from an “overweight” rating to a “neutral” rating in a report on Friday, June 8th. Cowen upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Friday, June 1st. Compass Point cut shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 price objective for the company. in a report on Tuesday, June 12th. Finally, ValuEngine cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Berkshire Hills Bancorp currently has a consensus rating of “Hold” and an average target price of $41.07.

In other news, EVP Michael D. Carroll sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $42.53, for a total value of $63,795.00. Following the completion of the transaction, the executive vice president now owns 7,432 shares in the company, valued at $316,082.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Shares of NYSE BHLB opened at $41.65 on Monday. The company has a market cap of $1.87 billion, a P/E ratio of 18.19 and a beta of 0.74. Berkshire Hills Bancorp, Inc. has a 52-week low of $32.85 and a 52-week high of $44.25. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.25.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Wednesday, July 18th. The savings and loans company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The company had revenue of $121.15 million during the quarter, compared to analysts’ expectations of $122.23 million. Berkshire Hills Bancorp had a net margin of 14.79% and a return on equity of 8.02%. equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 23rd. Stockholders of record on Thursday, August 9th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, August 8th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 38.43%.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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

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