SG Americas Securities LLC Reduces Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

SG Americas Securities LLC decreased its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 74.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,085 shares of the savings and loans company’s stock after selling 17,916 shares during the quarter. SG Americas Securities LLC’s holdings in Berkshire Hills Bancorp were worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Berkshire Hills Bancorp during the 1st quarter valued at $35,000. Quarry LP bought a new stake in Berkshire Hills Bancorp during the 1st quarter valued at $57,000. Russell Investments Group Ltd. bought a new stake in Berkshire Hills Bancorp during the 1st quarter valued at $57,000. Tower Research Capital LLC TRC raised its holdings in Berkshire Hills Bancorp by 304.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,538 shares of the savings and loans company’s stock valued at $63,000 after acquiring an additional 1,910 shares during the period. Finally, Point72 Middle East FZE bought a new stake in Berkshire Hills Bancorp during the 4th quarter valued at $119,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

NYSE BHLB opened at $20.88 on Tuesday. The company has a 50-day simple moving average of $22.03 and a two-hundred day simple moving average of $22.20. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. Berkshire Hills Bancorp, Inc. has a 12-month low of $18.07 and a 12-month high of $25.79. The firm has a market cap of $907.44 million, a price-to-earnings ratio of 13.05 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Berkshire Hills Bancorp had a net margin of 11.24% and a return on equity of 9.48%. The business had revenue of $142.15 million for the quarter, compared to analysts’ expectations of $109.05 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. On average, equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.04 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.45%. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.00%.

Insider Transactions at Berkshire Hills Bancorp

In other news, Director Baye Adofo-Wilson sold 10,074 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Baye Adofo-Wilson sold 10,074 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Zaitzeff sold 51,910 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $25.18, for a total transaction of $1,307,093.80. Following the sale, the director now owns 2,665 shares of the company’s stock, valued at $67,104.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,788 shares of company stock worth $5,239,449. Company insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. Piper Sandler raised Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 target price on the stock in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods increased their target price on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Finally, Seaport Res Ptn raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

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.