Berkshire Hills Bancorp, Inc. $BHLB Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 13.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,175,620 shares of the savings and loans company’s stock after acquiring an additional 141,137 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Berkshire Hills Bancorp were worth $30,672,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of Berkshire Hills Bancorp by 4.2% in the 1st quarter. Amalgamated Bank now owns 12,917 shares of the savings and loans company’s stock worth $337,000 after acquiring an additional 524 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Berkshire Hills Bancorp by 3.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 23,447 shares of the savings and loans company’s stock worth $612,000 after acquiring an additional 693 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Berkshire Hills Bancorp by 153.6% in the 1st quarter. Allianz Asset Management GmbH now owns 31,700 shares of the savings and loans company’s stock worth $827,000 after acquiring an additional 19,200 shares during the last quarter. Strategic Value Bank Partners LLC lifted its holdings in shares of Berkshire Hills Bancorp by 134.6% in the 1st quarter. Strategic Value Bank Partners LLC now owns 530,489 shares of the savings and loans company’s stock worth $13,840,000 after acquiring an additional 304,376 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 11.0% in the 1st quarter. Principal Financial Group Inc. now owns 226,935 shares of the savings and loans company’s stock worth $5,921,000 after acquiring an additional 22,454 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock opened at $25.66 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of 10.02 and a beta of 0.73. Berkshire Hills Bancorp, Inc. has a one year low of $22.27 and a one year high of $32.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day moving average price is $25.75 and its 200-day moving average price is $25.59.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.11. The company had revenue of $113.67 million for the quarter, compared to analyst estimates of $113.34 million. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. As a group, equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. Berkshire Hills Bancorp’s dividend payout ratio is 28.13%.

About Berkshire Hills Bancorp

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.