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 the business’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link.

Berkshire Hills Bancorp Price Performance

NYSE:BHLB opened at $29.35 on Monday. Berkshire Hills Bancorp, Inc. has a 12-month low of $20.50 and a 12-month high of $32.36. The company’s 50-day moving average is $28.86 and its two-hundred day moving average is $28.12. 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 firm has a market cap of $1.26 billion, a price-to-earnings ratio of 20.38 and a beta of 0.88.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, beating 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%. Research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on BHLB. Keefe, Bruyette & Woods boosted 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 research report on Tuesday, December 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. 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. 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 research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Berkshire Hills Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHLB. Smartleaf Asset Management LLC increased 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 worth $31,000 after purchasing an additional 821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Berkshire Hills Bancorp during the 3rd quarter worth approximately $34,000. Quarry LP increased 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 worth $37,000 after purchasing an additional 759 shares in the last quarter. Sterling Capital Management LLC increased 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 worth $39,000 after purchasing an additional 1,224 shares in the last quarter. Finally, nVerses Capital LLC increased its position in 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 purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.