Wakefield Asset Management LLLP Takes Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Wakefield Asset Management LLLP bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,738 shares of the savings and loans company’s stock, valued at approximately $1,044,000.

A number of other institutional investors have also recently bought and sold shares of BHLB. State Street Corp raised its position in Berkshire Hills Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock valued at $57,455,000 after purchasing an additional 18,307 shares during the period. Wellington Management Group LLP increased its stake in shares of Berkshire Hills Bancorp by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock worth $44,815,000 after buying an additional 293,784 shares during the last quarter. Systematic Financial Management LP raised its holdings in Berkshire Hills Bancorp by 13.7% in the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after acquiring an additional 114,433 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Berkshire Hills Bancorp by 28.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company’s stock valued at $9,175,000 after acquiring an additional 75,476 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Berkshire Hills Bancorp during the 4th quarter worth $6,672,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp Price Performance

NYSE BHLB opened at $28.15 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 19.55 and a beta of 0.88. The company has a 50 day simple moving average of $28.67 and a 200-day simple moving average of $28.27. Berkshire Hills Bancorp, Inc. has a 52-week low of $20.50 and a 52-week high of $32.36.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.72 annualized dividend and a dividend yield of 2.56%. Berkshire Hills Bancorp’s dividend payout ratio is 50.00%.

Insider Activity at Berkshire Hills Bancorp

In other news, EVP Ellen Tulchiner sold 1,052 shares of the firm’s 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. 1.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BHLB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a report on Tuesday, December 24th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Finally, Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

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.