Callan Family Office LLC Purchases Shares of 17,370 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Callan Family Office LLC purchased a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,370 shares of the savings and loans company’s stock, valued at approximately $494,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock worth $31,000 after buying an additional 821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Berkshire Hills Bancorp in the third quarter worth about $34,000. KBC Group NV increased its position in Berkshire Hills Bancorp by 57.8% in the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock worth $82,000 after buying an additional 1,051 shares in the last quarter. Plimoth Trust Co. LLC bought a new stake in Berkshire Hills Bancorp during the fourth quarter valued at about $204,000. Finally, Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp during the third quarter valued at about $215,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

BHLB has been the topic of a number of recent analyst reports. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a report on Tuesday, December 24th. Seaport Res Ptn raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.13.

Insider Activity

In other news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

Berkshire Hills Bancorp stock opened at $26.53 on Monday. The company has a 50 day moving average price of $28.52 and a 200-day moving average price of $28.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $32.36. The company has a market capitalization of $1.23 billion, a PE ratio of 18.42 and a beta of 0.85.

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

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio is currently 50.00%.

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.