Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Bought by State Street Corp

State Street Corp grew its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,119,475 shares of the savings and loans company’s stock after buying an additional 18,307 shares during the period. State Street Corp’s holdings in Berkshire Hills Bancorp were worth $57,455,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at approximately $34,000. nVerses Capital LLC raised its holdings in shares of Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after buying an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Berkshire Hills Bancorp during the second quarter worth $104,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Berkshire Hills Bancorp by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock valued at $134,000 after buying an additional 2,169 shares during the last quarter. Finally, Joel Isaacson & Co. LLC acquired a new position in shares of Berkshire Hills Bancorp in the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Down 3.5 %

Shares of BHLB opened at $28.12 on Thursday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.60 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The stock’s 50-day moving average price is $29.29 and its 200-day moving average price is $26.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 2.56%. Berkshire Hills Bancorp’s dividend payout ratio is presently 75.79%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reduced their price target on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Berkshire Hills Bancorp currently has a consensus rating of “Hold” and a consensus price target of $29.20.

About Berkshire Hills Bancorp

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.