13,462 Shares in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,462 shares of the savings and loans company’s stock, valued at approximately $383,000.

A number of other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after acquiring an additional 821 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Berkshire Hills Bancorp during the third quarter valued at approximately $34,000. KBC Group NV grew its stake in shares of Berkshire Hills Bancorp by 57.8% in the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock valued at $82,000 after purchasing an additional 1,051 shares during the period. Plimoth Trust Co. LLC bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at approximately $204,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Berkshire Hills Bancorp in the 3rd quarter worth approximately $215,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BHLB. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research note on Tuesday, December 24th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.13.

Insiders Place Their Bets

In other news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of BHLB stock opened at $26.13 on Monday. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The stock has a market capitalization of $1.21 billion, a PE ratio of 18.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $28.14 and its 200-day moving average is $28.28.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Equities research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.76%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Berkshire Hills Bancorp 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.