Berkshire Hills Bancorp, Inc. (BHLB) Stake Boosted by Bessemer Group Inc.
Bessemer Group Inc. raised its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,732 shares of the savings and loans company’s stock after buying an additional 432 shares during the period. Bessemer Group Inc.’s holdings in Berkshire Hills Bancorp were worth $1,748,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth about $101,000. New York State Teachers Retirement System increased its position in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after buying an additional 200 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Berkshire Hills Bancorp during the first quarter worth about $109,000. US Bancorp DE increased its position in shares of Berkshire Hills Bancorp by 68.3% in the second quarter. US Bancorp DE now owns 4,543 shares of the savings and loans company’s stock worth $160,000 after buying an additional 1,843 shares during the last quarter. Finally, TFS Capital LLC increased its position in shares of Berkshire Hills Bancorp by 11.5% in the first quarter. TFS Capital LLC now owns 7,714 shares of the savings and loans company’s stock worth $278,000 after buying an additional 797 shares during the last quarter. 62.53% of the stock is currently owned by institutional investors and hedge funds.
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) opened at 33.70 on Friday. The company has a 50 day moving average price of $35.82 and a 200 day moving average price of $35.77. The firm has a market capitalization of $1.26 billion, a P/E ratio of 18.61 and a beta of 0.63. Berkshire Hills Bancorp, Inc. has a 52-week low of $26.45 and a 52-week high of $38.65.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The firm had revenue of $102.34 million for the quarter, compared to analyst estimates of $102.75 million. On average, equities analysts forecast that Berkshire Hills Bancorp, Inc. will post $2.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.84 annualized dividend and a yield of 2.49%. Berkshire Hills Bancorp’s dividend payout ratio is currently 46.15%.
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A number of brokerages have recently issued reports on BHLB. BidaskClub downgraded Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $38.00 price target on shares of Berkshire Hills Bancorp in a research report on Monday, May 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 price target on shares of Berkshire Hills Bancorp in a research report on Wednesday, May 3rd. Zacks Investment Research raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Tuesday, June 27th. Finally, FIG Partners raised Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Berkshire Hills Bancorp currently has an average rating of “Hold” and a consensus price target of $35.80.
Berkshire Hills Bancorp Company Profile
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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