Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,202 shares of the savings and loans company’s stock after purchasing an additional 2,242 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Berkshire Hills Bancorp worth $802,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake 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 valued at $31,000 after acquiring an additional 821 shares during the period. KBC Group NV raised its stake in shares of Berkshire Hills Bancorp by 57.8% in the 4th quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock valued at $82,000 after acquiring an additional 1,051 shares during the period. Plimoth Trust Co. LLC purchased a new position in shares of Berkshire Hills Bancorp in the 4th quarter valued at $204,000. KLP Kapitalforvaltning AS purchased a new position in shares of Berkshire Hills Bancorp in the 4th quarter valued at $256,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Berkshire Hills Bancorp by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock valued at $376,000 after acquiring an additional 382 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Transactions at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 link. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a research note on Monday. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.13.

Berkshire Hills Bancorp Stock Down 1.0 %

NYSE:BHLB opened at $24.86 on Thursday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.26 and a beta of 0.58. The stock has a 50-day simple moving average of $25.49 and a 200 day simple moving average of $27.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Berkshire Hills Bancorp, Inc. has a one year low of $20.76 and a one year high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last issued 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. The company had revenue of $110.44 million during the quarter, compared to analyst estimates of $109.71 million. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were given a $0.18 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.72 annualized dividend and a dividend yield of 2.90%. Berkshire Hills Bancorp’s payout ratio is 29.15%.

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.