Bank of New York Mellon Corp increased its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,303 shares of the savings and loans company’s stock after buying an additional 8,906 shares during the period. Bank of New York Mellon Corp owned 0.83% of Berkshire Hills Bancorp worth $13,031,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in Berkshire Hills Bancorp by 5.6% in the third quarter. Rhumbline Advisers now owns 44,092 shares of the savings and loans company’s stock worth $1,709,000 after buying an additional 2,341 shares in the last quarter. Hillcrest Asset Management LLC bought a new position in shares of Berkshire Hills Bancorp during the third quarter valued at approximately $8,344,000. BNP Paribas Arbitrage SA increased its stake in shares of Berkshire Hills Bancorp by 2,260.6% during the third quarter. BNP Paribas Arbitrage SA now owns 103,230 shares of the savings and loans company’s stock valued at $4,000,000 after purchasing an additional 98,857 shares in the last quarter. FDx Advisors Inc. bought a new position in shares of Berkshire Hills Bancorp during the third quarter valued at approximately $217,000. Finally, IndexIQ Advisors LLC increased its stake in shares of Berkshire Hills Bancorp by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 24,041 shares of the savings and loans company’s stock valued at $932,000 after purchasing an additional 10,909 shares in the last quarter. 67.21% of the stock is owned by institutional investors.

In other news, Director James Williar Dunlaevy sold 7,455 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $39.30, for a total transaction of $292,981.50. Following the sale, the director now owns 67,747 shares in the company, valued at $2,662,457.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William J. Ryan purchased 3,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of $37.87 per share, for a total transaction of $113,610.00. The disclosure for this purchase can be found here. Corporate insiders own 2.82% of the company’s stock.

Shares of Berkshire Hills Bancorp, Inc. (NYSE BHLB) opened at $37.35 on Friday. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $40.00. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market cap of $1,708.84, a P/E ratio of 16.56 and a beta of 0.68.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $100.83 million for the quarter, compared to analysts’ expectations of $107.60 million. sell-side analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.29 EPS for the current year.

A number of brokerages have weighed in on BHLB. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. BidaskClub downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $39.50 target price on shares of Berkshire Hills Bancorp in a research note on Sunday, October 22nd. Jefferies Group reaffirmed a “hold” rating and set a $40.00 target price on shares of Berkshire Hills Bancorp in a research note on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $41.00 target price on shares of Berkshire Hills Bancorp in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.90.

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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.

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

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