Cinctive Capital Management LP Makes New $2.05 Million Investment in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Cinctive Capital Management LP acquired a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 72,047 shares of the savings and loans company’s stock, valued at approximately $2,048,000. Cinctive Capital Management LP owned about 0.17% of Berkshire Hills Bancorp as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in Berkshire Hills Bancorp by 3.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock valued at $376,000 after purchasing an additional 382 shares in the last quarter. FMR LLC boosted its stake in shares of Berkshire Hills Bancorp by 3.3% during the 3rd quarter. FMR LLC now owns 15,411 shares of the savings and loans company’s stock worth $415,000 after buying an additional 496 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Berkshire Hills Bancorp by 282.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after acquiring an additional 821 shares in the last quarter. KBC Group NV increased its position in shares of Berkshire Hills Bancorp by 57.8% in the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock valued at $82,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Berkshire Hills Bancorp during the third quarter worth about $34,000. Institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Stock Up 0.7 %

Berkshire Hills Bancorp stock opened at $26.27 on Thursday. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36. The stock has a market cap of $1.22 billion, a P/E ratio of 18.24 and a beta of 0.58. The company’s 50-day moving average price is $27.84 and its two-hundred day moving average price is $28.28. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

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

Berkshire Hills Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio is currently 50.00%.

Analyst Upgrades and Downgrades

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

Berkshire Hills Bancorp 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.