Bank of Montreal Can Purchases 690 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Bank of Montreal Can increased its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,292 shares of the savings and loans company’s stock after purchasing an additional 690 shares during the period. Bank of Montreal Can’s holdings in Berkshire Hills Bancorp were worth $293,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BHLB. Smartleaf Asset Management LLC raised its holdings in shares of Berkshire Hills Bancorp by 282.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock worth $31,000 after buying an additional 821 shares in the last quarter. Russell Investments Group Ltd. grew its position in Berkshire Hills Bancorp by 2,259.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 2,169 shares during the period. KBC Group NV raised its stake in Berkshire Hills Bancorp by 57.8% during the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock worth $82,000 after acquiring an additional 1,051 shares in the last quarter. Plimoth Trust Co. LLC bought a new position in shares of Berkshire Hills Bancorp during the fourth quarter valued at $204,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at $256,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Price Performance

Berkshire Hills Bancorp stock opened at $24.34 on Thursday. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.76 and a 52 week high of $32.36. The firm has a market cap of $1.13 billion, a P/E ratio of 16.90 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The business’s fifty day moving average is $25.89 and its two-hundred day moving average is $27.89.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Equities research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 annualized dividend and a yield of 2.96%. Berkshire Hills Bancorp’s dividend payout ratio is currently 50.00%.

Insider Activity

In other news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

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.