Berkshire Hills Bancorp (NYSE:BHLB) Hits New 12-Month High at $25.83

Berkshire Hills Bancorp, Inc. (NYSE:BHLB)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.83 and last traded at $25.77, with a volume of 4720 shares. The stock had previously closed at $25.16.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Berkshire Hills Bancorp Price Performance

The company has a market capitalization of $1.14 billion, a PE ratio of 52.60 and a beta of 0.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average price of $22.32 and a two-hundred day moving average price of $22.50.

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 for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $169.32 million for the quarter, compared to analyst estimates of $107.89 million. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. During the same quarter last year, the firm earned $0.63 earnings per share. Equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.06 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 20th were given a $0.18 dividend. The ex-dividend date was Thursday, June 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.74%. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in shares of Berkshire Hills Bancorp by 15.4% during the 3rd quarter. American Century Companies Inc. now owns 397,579 shares of the savings and loans company’s stock worth $7,971,000 after purchasing an additional 53,162 shares during the period. Wellington Management Group LLP increased its stake in Berkshire Hills Bancorp by 17.1% during the third quarter. Wellington Management Group LLP now owns 1,382,777 shares of the savings and loans company’s stock valued at $27,725,000 after acquiring an additional 201,948 shares during the period. Ziegler Capital Management LLC raised its holdings in Berkshire Hills Bancorp by 6.9% in the 4th quarter. Ziegler Capital Management LLC now owns 30,221 shares of the savings and loans company’s stock valued at $750,000 after acquiring an additional 1,957 shares in the last quarter. Raymond James & Associates lifted its position in shares of Berkshire Hills Bancorp by 3.1% in the 4th quarter. Raymond James & Associates now owns 17,843 shares of the savings and loans company’s stock worth $443,000 after acquiring an additional 541 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $534,000. Institutional investors own 83.07% of the company’s stock.

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.