Ameriprise Financial Inc. Has $7.48 Million Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Ameriprise Financial Inc. raised its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 263,234 shares of the savings and loans company’s stock after acquiring an additional 9,175 shares during the period. Ameriprise Financial Inc. owned about 0.61% of Berkshire Hills Bancorp worth $7,484,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Berkshire Hills Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company’s stock worth $76,371,000 after purchasing an additional 10,579 shares in the last quarter. Invesco Ltd. grew its position in Berkshire Hills Bancorp by 20.8% in the fourth quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company’s stock valued at $36,719,000 after purchasing an additional 222,162 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Berkshire Hills Bancorp in the 4th quarter valued at $29,410,000. American Century Companies Inc. lifted its position in Berkshire Hills Bancorp by 0.4% during the 4th quarter. American Century Companies Inc. now owns 625,824 shares of the savings and loans company’s stock worth $17,792,000 after buying an additional 2,694 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its position in Berkshire Hills Bancorp by 623.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company’s stock worth $14,687,000 after buying an additional 445,228 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Monday, April 28th. Four 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Berkshire Hills Bancorp Trading Down 3.8%

NYSE BHLB opened at $25.28 on Thursday. Berkshire Hills Bancorp, Inc. has a 12 month low of $20.76 and a 12 month high of $32.36. 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 stock has a 50 day moving average of $25.16 and a 200-day moving average of $27.67. The company has a market cap of $1.17 billion, a PE ratio of 17.56 and a beta of 0.53.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, April 24th. 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%. The firm had revenue of $110.44 million for the quarter, compared to analyst estimates of $109.71 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.85%. Berkshire Hills Bancorp’s payout ratio is 29.15%.

About Berkshire Hills Bancorp

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.