State of Alaska Department of Revenue Sells 850 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

State of Alaska Department of Revenue trimmed its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLBFree Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,016 shares of the savings and loans company’s stock after selling 850 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Berkshire Hills Bancorp worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BHLB. Victory Capital Management Inc. acquired a new stake in Berkshire Hills Bancorp in the fourth quarter valued at $219,000. Teton Advisors Inc. acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth about $240,000. J.W. Cole Advisors Inc. acquired a new stake in Berkshire Hills Bancorp during the 4th quarter worth about $258,000. Private Advisor Group LLC grew its holdings in Berkshire Hills Bancorp by 8.0% during the 4th quarter. Private Advisor Group LLC now owns 10,884 shares of the savings and loans company’s stock worth $270,000 after acquiring an additional 806 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Berkshire Hills Bancorp by 55.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock worth $297,000 after acquiring an additional 4,287 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.00.

Read Our Latest Analysis on BHLB

Berkshire Hills Bancorp Stock Performance

Shares of BHLB opened at $22.96 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day moving average of $22.19 and a 200-day moving average of $22.54. The company has a market cap of $993.94 million, a PE ratio of 45.92 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a one year low of $18.31 and a one year high of $25.79.

Berkshire Hills Bancorp (NYSE:BHLBGet Free Report) last issued its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $169.32 million during the quarter, compared to the consensus estimate of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same period last year, the business posted $0.63 EPS. On average, equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.06 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 20th were paid a $0.18 dividend. The ex-dividend date was Thursday, June 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.14%. Berkshire Hills Bancorp’s dividend payout ratio is presently 144.00%.

Berkshire Hills Bancorp Profile

(Free Report)

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.

Further Reading

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

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