Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Sells $31,528.44 in Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner sold 1,052 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were 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 can be accessed through this link.

Berkshire Hills Bancorp Stock Down 0.5 %

Shares of NYSE BHLB traded down $0.14 during mid-day trading on Friday, reaching $29.45. 43,164 shares of the company’s stock traded hands, compared to its average volume of 380,749. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day simple moving average of $28.91 and a 200 day simple moving average of $28.09. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The stock has a market cap of $1.27 billion, a P/E ratio of 20.44 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, beating 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%. On average, analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 20th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is currently 50.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BHLB. Adage Capital Partners GP L.L.C. bought a new stake in Berkshire Hills Bancorp in the fourth quarter worth about $29,410,000. ExodusPoint Capital Management LP grew its stake in Berkshire Hills Bancorp by 623.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company’s stock valued at $14,687,000 after acquiring an additional 445,228 shares in the last quarter. Wellington Management Group LLP grew its stake in Berkshire Hills Bancorp by 21.4% during the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock valued at $44,815,000 after acquiring an additional 293,784 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter worth approximately $6,672,000. Finally, Invesco Ltd. lifted its holdings in shares of Berkshire Hills Bancorp by 20.8% in the 4th quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company’s stock worth $36,719,000 after acquiring an additional 222,162 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BHLB shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods upped their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a report on Tuesday, December 24th. Finally, Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

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.