Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,784 shares of the savings and loans company’s stock after acquiring an additional 543 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Berkshire Hills Bancorp were worth $360,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP lifted its holdings in shares of Berkshire Hills Bancorp by 142.7% in the 4th quarter. Quarry LP now owns 1,291 shares of the savings and loans company’s stock valued at $37,000 after purchasing an additional 759 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 130.9% in the 1st quarter. Meeder Asset Management Inc. now owns 1,374 shares of the savings and loans company’s stock valued at $36,000 after purchasing an additional 779 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 805.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company’s stock valued at $39,000 after purchasing an additional 1,224 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Berkshire Hills Bancorp by 2,259.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company’s stock valued at $64,000 after purchasing an additional 2,169 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Berkshire Hills Bancorp by 508.7% in the 1st quarter. CWM LLC now owns 4,413 shares of the savings and loans company’s stock valued at $115,000 after purchasing an additional 3,688 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Trading Down 1.6%

Shares of BHLB opened at $25.23 on Friday. The stock’s 50-day moving average is $25.39 and its two-hundred day moving average is $25.94. The stock has a market cap of $1.17 billion, a PE ratio of 9.86 and a beta of 0.66. Berkshire Hills Bancorp, Inc. has a 12 month low of $22.27 and a 12 month high of $32.36. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 1.02.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.69 EPS for the quarter, topping 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 business had revenue of $113.67 million for the quarter, compared to analysts’ expectations of $113.34 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 14th. Berkshire Hills Bancorp’s payout ratio is currently 28.13%.

Wall Street Analysts Forecast Growth

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

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.