Cubist Systematic Strategies LLC Invests $224,000 in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

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Cubist Systematic Strategies LLC purchased a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the second quarter, HoldingsChannel reports. The fund purchased 7,149 shares of the savings and loans company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP grew its holdings in Berkshire Hills Bancorp by 230.8% in the first quarter. First Trust Advisors LP now owns 44,275 shares of the savings and loans company’s stock valued at $1,206,000 after purchasing an additional 30,890 shares during the period. Beese Fulmer Investment Management Inc. purchased a new stake in Berkshire Hills Bancorp in the second quarter valued at approximately $382,000. Hennessy Advisors Inc. grew its holdings in Berkshire Hills Bancorp by 3.1% in the second quarter. Hennessy Advisors Inc. now owns 165,000 shares of the savings and loans company’s stock valued at $5,179,000 after purchasing an additional 5,000 shares during the period. Louisiana State Employees Retirement System grew its holdings in Berkshire Hills Bancorp by 11.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the savings and loans company’s stock valued at $537,000 after purchasing an additional 1,800 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Berkshire Hills Bancorp by 6.2% in the second quarter. New York State Teachers Retirement System now owns 17,077 shares of the savings and loans company’s stock valued at $536,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 72.38% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, October 7th. Sandler O’Neill downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a report on Tuesday, July 2nd. DA Davidson restated a “buy” rating on shares of Berkshire Hills Bancorp in a report on Monday, July 22nd. ValuEngine upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Compass Point upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.80.

Shares of BHLB stock opened at $29.06 on Tuesday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 10.72 and a beta of 1.09. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.23. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $38.81. The firm’s 50 day moving average price is $29.73 and its two-hundred day moving average price is $30.01.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $109.11 million for the quarter, compared to analysts’ expectations of $114.10 million. Berkshire Hills Bancorp had a net margin of 16.28% and a return on equity of 7.76%. On average, equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.44 EPS for the current fiscal year.

In other Berkshire Hills Bancorp news, Director Rheo A. Brouillard sold 9,454 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $32.80, for a total transaction of $310,091.20. Following the transaction, the director now directly owns 21,004 shares of the company’s stock, valued at $688,931.20. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.76% of the company’s stock.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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

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