LPL Financial LLC Has $5.39 Million Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

LPL Financial LLC grew its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,516 shares of the savings and loans company’s stock after buying an additional 506 shares during the period. LPL Financial LLC owned 0.45% of Berkshire Hills Bancorp worth $5,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Berkshire Hills Bancorp by 81.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,326 shares of the savings and loans company’s stock valued at $635,000 after buying an additional 10,903 shares during the period. Wakefield Asset Management LLLP increased its stake in shares of Berkshire Hills Bancorp by 8.0% in the first quarter. Wakefield Asset Management LLLP now owns 39,689 shares of the savings and loans company’s stock valued at $1,035,000 after buying an additional 2,951 shares during the period. Fagan Associates Inc. acquired a new stake in shares of Berkshire Hills Bancorp in the first quarter valued at about $835,000. Allianz Asset Management GmbH increased its stake in shares of Berkshire Hills Bancorp by 153.6% in the first quarter. Allianz Asset Management GmbH now owns 31,700 shares of the savings and loans company’s stock valued at $827,000 after buying an additional 19,200 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Berkshire Hills Bancorp by 6.8% in the first quarter. Private Advisor Group LLC now owns 12,958 shares of the savings and loans company’s stock valued at $338,000 after buying an additional 827 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada restated a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Monday, April 28th.

Berkshire Hills Bancorp Stock Up 4.2%

Shares of Berkshire Hills Bancorp stock opened at $25.44 on Wednesday. Berkshire Hills Bancorp, Inc. has a one year low of $22.27 and a one year high of $32.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average is $25.33 and its 200 day moving average is $25.98. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 9.94 and a beta of 0.66.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.58 by $0.11. Berkshire Hills Bancorp had a return on equity of 9.45% and a net margin of 15.93%. The company had revenue of $113.67 million for the quarter, compared to analyst estimates of $113.34 million. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. Berkshire Hills Bancorp’s dividend payout ratio is presently 28.13%.

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.