Allianz Asset Management GmbH raised its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,061,154 shares of the savings and loans company’s stock after buying an additional 158,961 shares during the period. Allianz Asset Management GmbH owned about 2.34% of Berkshire Hills Bancorp worth $41,119,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Teachers Advisors LLC lifted its position in shares of Berkshire Hills Bancorp by 2.2% in the 1st quarter. Teachers Advisors LLC now owns 68,352 shares of the savings and loans company’s stock worth $2,464,000 after purchasing an additional 1,458 shares during the period. Aperio Group LLC lifted its position in Berkshire Hills Bancorp by 4.0% during the 2nd quarter. Aperio Group LLC now owns 20,032 shares of the savings and loans company’s stock valued at $704,000 after acquiring an additional 767 shares during the period. US Bancorp DE lifted its position in Berkshire Hills Bancorp by 68.3% during the 2nd quarter. US Bancorp DE now owns 4,543 shares of the savings and loans company’s stock valued at $160,000 after acquiring an additional 1,843 shares during the period. Russell Investments Group Ltd. lifted its position in Berkshire Hills Bancorp by 8.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 56,997 shares of the savings and loans company’s stock valued at $2,004,000 after acquiring an additional 4,600 shares during the period. Finally, Strs Ohio lifted its position in Berkshire Hills Bancorp by 3.5% during the 2nd quarter. Strs Ohio now owns 26,400 shares of the savings and loans company’s stock valued at $927,000 after acquiring an additional 900 shares during the period. 66.31% of the stock is currently owned by hedge funds and other institutional investors.
Berkshire Hills Bancorp, Inc. (BHLB) opened at $38.25 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Berkshire Hills Bancorp, Inc. has a 1-year low of $32.85 and a 1-year high of $40.00. The firm has a market cap of $1,738.27, a P/E ratio of 16.84 and a beta of 0.68.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. The business had revenue of $100.83 million for the quarter, compared to the consensus estimate of $107.60 million. equities research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, November 8th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 45.16%.
A number of research analysts recently issued reports on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $39.50 price target on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $41.00 price target on shares of Berkshire Hills Bancorp in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Jefferies Group reiterated a “hold” rating and issued a $40.00 price target on shares of Berkshire Hills Bancorp in a research note on Wednesday, October 11th. Finally, BidaskClub upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Berkshire Hills Bancorp has a consensus rating of “Hold” and a consensus target price of $40.90.
In other news, insider Michael D. Carroll sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $38.50, for a total value of $77,000.00. Following the transaction, the insider now directly owns 7,255 shares in the company, valued at $279,317.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Williar Dunlaevy sold 7,455 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $39.30, for a total transaction of $292,981.50. Following the completion of the transaction, the director now owns 67,747 shares in the company, valued at $2,662,457.10. The disclosure for this sale can be found here. 2.82% of the stock is owned by corporate insiders.
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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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