Berkshire Hills Bancorp, Inc. (NYSE:BHLB) CEO Nitin J. Mhatre Buys 1,100 Shares

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) CEO Nitin J. Mhatre bought 1,100 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $22.02 per share, for a total transaction of $24,222.00. Following the transaction, the chief executive officer now directly owns 88,799 shares in the company, valued at approximately $1,955,353.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Berkshire Hills Bancorp Price Performance

Shares of Berkshire Hills Bancorp stock traded up $0.01 during trading on Friday, reaching $22.11. The company’s stock had a trading volume of 70,574 shares, compared to its average volume of 239,104. The business has a 50 day moving average price of $21.88 and a 200-day moving average price of $22.25. The company has a market capitalization of $960.90 million, a P/E ratio of 44.20 and a beta of 0.87. Berkshire Hills Bancorp, Inc. has a 12-month low of $18.07 and a 12-month high of $25.79. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.05 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.26%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Seaport Res Ptn raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Monday, January 29th. StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Finally, Piper Sandler upgraded Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.00.

Hedge Funds Weigh In On Berkshire Hills Bancorp

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $219,000. Teton Advisors Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $240,000. Private Advisor Group LLC purchased a new stake in shares of Berkshire Hills Bancorp in the third quarter valued at $202,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $258,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Berkshire Hills Bancorp by 55.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock valued at $297,000 after purchasing an additional 4,287 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Company Profile

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.