Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Sells $31,528.44 in Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Berkshire Hills Bancorp Trading Down 0.8 %

NYSE BHLB opened at $29.35 on Monday. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year 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 $28.86 and a 200-day moving average of $28.12. The firm has a market cap of $1.26 billion, a PE ratio of 20.38 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. As a group, sell-side analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is 50.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BHLB. Smartleaf Asset Management LLC raised its position in Berkshire Hills Bancorp by 282.1% during 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 purchasing an additional 821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Berkshire Hills Bancorp during the 3rd quarter valued at approximately $34,000. Quarry LP raised its position in Berkshire Hills Bancorp by 142.7% during 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. Sterling Capital Management LLC raised its position in Berkshire Hills Bancorp by 805.3% during 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. Finally, nVerses Capital LLC grew its holdings in shares of Berkshire Hills Bancorp by 233.3% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Seaport Res Ptn raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods lifted their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research note on Tuesday, December 24th. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Finally, 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 Friday, January 31st. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.13.

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.