Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner Sells 1,052 Shares

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner sold 1,052 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Berkshire Hills Bancorp Trading Down 0.8 %

BHLB opened at $29.35 on Friday. The stock has a market cap of $1.26 billion, a PE ratio of 20.38 and a beta of 0.88. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $28.86 and a 200-day moving average of $28.11. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BHLB. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods lifted their price objective on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research report on Tuesday, December 24th. Finally, Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Berkshire Hills Bancorp by 105.0% in the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock worth $2,595,000 after purchasing an additional 49,356 shares in the last quarter. State Street Corp increased its holdings in shares of Berkshire Hills Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after purchasing an additional 18,307 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Berkshire Hills Bancorp by 61.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock worth $5,135,000 after purchasing an additional 72,402 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Berkshire Hills Bancorp by 13.7% in the 3rd quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock worth $25,654,000 after purchasing an additional 114,433 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter worth $6,672,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.