Eaton Vance Management cut its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 111,432 shares of the savings and loans company’s stock after selling 6,483 shares during the quarter. Eaton Vance Management owned 0.30% of Berkshire Hills Bancorp worth $3,917,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Berkshire Hills Bancorp by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,820,741 shares of the savings and loans company’s stock worth $101,688,000 after acquiring an additional 179,787 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Berkshire Hills Bancorp by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 2,584,068 shares of the savings and loans company’s stock worth $93,155,000 after acquiring an additional 239,543 shares in the last quarter. State Street Corp boosted its stake in shares of Berkshire Hills Bancorp by 21.5% during the 1st quarter. State Street Corp now owns 1,056,853 shares of the savings and loans company’s stock worth $38,096,000 after acquiring an additional 186,950 shares in the last quarter. LSV Asset Management boosted its stake in shares of Berkshire Hills Bancorp by 2.8% during the 2nd quarter. LSV Asset Management now owns 1,053,520 shares of the savings and loans company’s stock worth $37,031,000 after acquiring an additional 29,100 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in shares of Berkshire Hills Bancorp by 1.5% during the 1st quarter. Rothschild Asset Management Inc. now owns 722,940 shares of the savings and loans company’s stock worth $26,062,000 after acquiring an additional 10,640 shares in the last quarter. Institutional investors own 74.11% of the company’s stock.

In related news, EVP Richard M. Marotta sold 9,500 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the completion of the sale, the executive vice president now owns 28,523 shares in the company, valued at approximately $950,386.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael P. Daly sold 25,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $33.78, for a total transaction of $844,500.00. Following the completion of the sale, the insider now owns 103,670 shares of the company’s stock, valued at approximately $3,501,972.60. The disclosure for this sale can be found here. 2.82% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. BidaskClub raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. FIG Partners raised Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 23rd. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday. Finally, Piper Jaffray Companies raised Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 price objective for the company in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.30.

Shares of Berkshire Hills Bancorp, Inc. (BHLB) opened at 34.40 on Friday. Berkshire Hills Bancorp, Inc. has a 12 month low of $26.80 and a 12 month high of $38.65. The stock has a 50 day moving average price of $34.42 and a 200 day moving average price of $35.45. The firm has a market cap of $1.37 billion, a PE ratio of 19.00 and a beta of 0.65.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, beating the Zacks’ 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 business had revenue of $102.34 million during the quarter, compared to analysts’ expectations of $102.75 million. On average, equities research analysts expect that Berkshire Hills Bancorp, Inc. will post $2.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Tuesday, August 8th. Berkshire Hills Bancorp’s dividend payout ratio is currently 46.15%.

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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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Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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