12,180 Shares in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Purchased by SlateStone Wealth LLC

SlateStone Wealth LLC bought a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLBGet Rating) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,180 shares of the savings and loans company’s stock, valued at approximately $346,000.

A number of other large investors have also modified their holdings of BHLB. Advisor Group Holdings Inc. boosted its position in shares of Berkshire Hills Bancorp by 100.5% in the third quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the savings and loans company’s stock valued at $42,000 after acquiring an additional 786 shares during the period. Trust Co. of Vermont bought a new position in shares of Berkshire Hills Bancorp in the fourth quarter valued at approximately $128,000. Teacher Retirement System of Texas bought a new position in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $221,000. Hsbc Holdings PLC bought a new position in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $230,000. Finally, Trexquant Investment LP bought a new position in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $248,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, March 28th. StockNews.com assumed coverage on shares of Berkshire Hills Bancorp in a research report on Thursday, March 31st. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.80.

In related news, CEO Nitin J. Mhatre purchased 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 25th. The shares were acquired at an average price of $29.48 per share, for a total transaction of $79,596.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey W. Kip purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 31st. The stock was bought at an average price of $29.25 per share, for a total transaction of $292,500.00. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

Shares of BHLB stock traded down $0.26 during trading hours on Friday, hitting $27.37. 320,648 shares of the company’s stock were exchanged, compared to its average volume of 330,612. The company has a market capitalization of $1.33 billion, a PE ratio of 11.31 and a beta of 1.04. Berkshire Hills Bancorp, Inc. has a 12-month low of $21.00 and a 12-month high of $31.78. The business’s 50 day simple moving average is $29.88 and its 200-day simple moving average is $28.81. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09.

Berkshire Hills Bancorp (NYSE:BHLBGet Rating) last posted its quarterly earnings results on Thursday, January 20th. The savings and loans company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $90.72 million for the quarter, compared to the consensus estimate of $91.00 million. Berkshire Hills Bancorp had a net margin of 25.12% and a return on equity of 7.13%. During the same period last year, the firm posted $0.28 earnings per share. Equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 1.82 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 10th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, February 9th. Berkshire Hills Bancorp’s payout ratio is 19.83%.

Berkshire Hills Bancorp Profile (Get Rating)

Berkshire Hills Bancorp, Inc operates as the 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.

Further Reading

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

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