Allspring Global Investments Holdings LLC boosted its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Free Report) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,120 shares of the savings and loans company’s stock after purchasing an additional 514 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Berkshire Hills Bancorp were worth $85,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BHLB. Lazard Asset Management LLC purchased a new position in shares of Berkshire Hills Bancorp during the first quarter valued at about $35,000. Quarry LP purchased a new stake in Berkshire Hills Bancorp in the first quarter worth about $57,000. Russell Investments Group Ltd. purchased a new stake in Berkshire Hills Bancorp in the first quarter worth about $57,000. Tower Research Capital LLC TRC grew its holdings in Berkshire Hills Bancorp by 304.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,538 shares of the savings and loans company’s stock worth $63,000 after purchasing an additional 1,910 shares during the period. Finally, Point72 Middle East FZE purchased a new stake in Berkshire Hills Bancorp in the fourth quarter worth about $119,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.
Berkshire Hills Bancorp Price Performance
Berkshire Hills Bancorp stock opened at $21.16 on Friday. The firm has a 50-day moving average price of $20.11 and a 200-day moving average price of $21.03. The firm has a market capitalization of $924.06 million, a PE ratio of 9.12 and a beta of 0.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Berkshire Hills Bancorp, Inc. has a 12-month low of $18.07 and a 12-month high of $31.63.
Berkshire Hills Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, November 15th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 31.03%.
Insider Buying and Selling at Berkshire Hills Bancorp
In other Berkshire Hills Bancorp news, Director Mary Anne Callahan bought 2,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were acquired at an average price of $20.60 per share, with a total value of $41,200.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $206,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have acquired 13,000 shares of company stock valued at $259,420. Company insiders own 0.90% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on BHLB shares. Seaport Res Ptn restated a “sell” rating on shares of Berkshire Hills Bancorp in a research report on Tuesday, September 12th. StockNews.com downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. TheStreet upgraded shares of Berkshire Hills Bancorp from a “c” rating to a “b-” rating in a research report on Thursday, July 20th. Finally, Royal Bank of Canada reduced their target price on shares of Berkshire Hills Bancorp from $23.00 to $22.00 and set a “sector perform” rating for the company in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, Berkshire Hills Bancorp currently has an average rating of “Hold” and an average price target of $27.67.
About Berkshire Hills Bancorp
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, interest-bearing checking, 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.
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