Russell Investments Group Ltd. Has $64,000 Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Russell Investments Group Ltd. grew its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 2,259.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,265 shares of the savings and loans company’s stock after acquiring an additional 2,169 shares during the quarter. Russell Investments Group Ltd.’s holdings in Berkshire Hills Bancorp were worth $64,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock worth $31,000 after purchasing an additional 821 shares during the period. KBC Group NV lifted its holdings in shares of Berkshire Hills Bancorp by 57.8% during the 4th 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 during the period. Plimoth Trust Co. LLC acquired a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $204,000. KLP Kapitalforvaltning AS bought a new position in Berkshire Hills Bancorp in the fourth quarter valued at approximately $256,000. Finally, PNC Financial Services Group Inc. raised its position in Berkshire Hills Bancorp by 3.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock valued at $376,000 after purchasing an additional 382 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Berkshire Hills Bancorp Stock Performance

Shares of BHLB stock opened at $24.64 on Friday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 17.11 and a beta of 0.58. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $25.71 and its 200-day moving average price is $27.88. Berkshire Hills Bancorp, Inc. has a 12 month low of $20.76 and a 12 month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, April 24th. The savings and loans company reported $0.60 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%. The business had revenue of $110.44 million for the quarter, compared to the consensus estimate of $109.71 million. Equities research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.92%. Berkshire Hills Bancorp’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Berkshire Hills Bancorp Company 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.