Private Advisor Group LLC Has $351,000 Stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Private Advisor Group LLC boosted its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 38.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,031 shares of the savings and loans company’s stock after buying an additional 3,615 shares during the quarter. Private Advisor Group LLC’s holdings in Berkshire Hills Bancorp were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC lifted its stake in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock valued at $201,000 after buying an additional 601 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Berkshire Hills Bancorp by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock valued at $520,000 after purchasing an additional 1,071 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after purchasing an additional 1,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Berkshire Hills Bancorp by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,988 shares of the savings and loans company’s stock valued at $734,000 after purchasing an additional 1,753 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Berkshire Hills Bancorp by 58.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 2,169 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Janney Montgomery Scott lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Monday, July 22nd. StockNews.com raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Hovde Group boosted their price target on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.80.

Berkshire Hills Bancorp Trading Up 1.8 %

BHLB opened at $27.55 on Wednesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 29.00 and a beta of 0.86. Berkshire Hills Bancorp, Inc. has a 12 month low of $20.02 and a 12 month high of $28.51. The firm’s fifty day simple moving average is $26.97 and its 200 day simple moving average is $24.87. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The firm had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $119.61 million. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.61%. Berkshire Hills Bancorp’s dividend payout ratio is presently 75.79%.

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.