Rhumbline Advisers Sells 1,617 Shares of Berkshire Hills Bancorp, Inc. $BHLB

Rhumbline Advisers cut its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,306 shares of the savings and loans company’s stock after selling 1,617 shares during the period. Rhumbline Advisers owned approximately 0.28% of Berkshire Hills Bancorp worth $3,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Berkshire Hills Bancorp by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 5,257,565 shares of the savings and loans company’s stock valued at $137,170,000 after purchasing an additional 105,497 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Berkshire Hills Bancorp by 166.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,842,975 shares of the savings and loans company’s stock worth $48,083,000 after purchasing an additional 1,151,107 shares during the period. Invesco Ltd. raised its holdings in Berkshire Hills Bancorp by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,355,863 shares of the savings and loans company’s stock valued at $35,374,000 after acquiring an additional 64,316 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Berkshire Hills Bancorp by 13.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,175,620 shares of the savings and loans company’s stock worth $30,672,000 after purchasing an additional 141,137 shares during the period. Finally, Nuveen LLC bought a new position in shares of Berkshire Hills Bancorp in the first quarter worth $17,966,000. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Stock Down 2.5%

Shares of NYSE:BHLB opened at $25.66 on Tuesday. Berkshire Hills Bancorp, Inc. has a 52-week low of $22.27 and a 52-week high of $32.36. The firm has a fifty day moving average of $25.68 and a 200 day moving average of $25.41. The firm has a market capitalization of $1.19 billion, a PE ratio of 10.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.11. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The company had revenue of $113.67 million during the quarter, compared to analyst estimates of $113.34 million. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, 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 was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 14th. Berkshire Hills Bancorp’s dividend payout ratio is currently 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.