Millennium Management LLC Has $4.19 Million Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Millennium Management LLC increased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 126.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 183,616 shares of the savings and loans company’s stock after buying an additional 102,384 shares during the quarter. Millennium Management LLC owned 0.42% of Berkshire Hills Bancorp worth $4,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caxton Associates LP bought a new position in shares of Berkshire Hills Bancorp in the 2nd quarter worth $412,000. Public Sector Pension Investment Board increased its position in shares of Berkshire Hills Bancorp by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 93,532 shares of the savings and loans company’s stock valued at $2,133,000 after purchasing an additional 5,998 shares during the last quarter. Sei Investments Co. increased its position in shares of Berkshire Hills Bancorp by 2.3% during the 2nd quarter. Sei Investments Co. now owns 99,677 shares of the savings and loans company’s stock valued at $2,273,000 after purchasing an additional 2,257 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Berkshire Hills Bancorp during the 2nd quarter valued at $409,000. Finally, Renaissance Technologies LLC increased its holdings in Berkshire Hills Bancorp by 60.4% in the 2nd quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock worth $9,636,000 after acquiring an additional 159,200 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Janney Montgomery Scott downgraded Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Monday, July 22nd. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Hovde Group lifted their price target on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Berkshire Hills Bancorp presently has an average rating of “Hold” and an average price target of $26.80.

Berkshire Hills Bancorp Trading Up 3.1 %

Shares of NYSE BHLB opened at $27.16 on Friday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 54.32 and a beta of 0.86. The business’s 50 day moving average is $26.45 and its two-hundred day moving average is $24.15. Berkshire Hills Bancorp, Inc. has a 1-year low of $18.31 and a 1-year high of $28.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The company had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $108.46 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.12 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.65%. Berkshire Hills Bancorp’s dividend payout ratio is presently 144.00%.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.