Quantbot Technologies LP Purchases Shares of 20,931 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Quantbot Technologies LP acquired a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,931 shares of the savings and loans company’s stock, valued at approximately $595,000.

A number of other hedge funds have also modified their holdings of BHLB. Smartleaf Asset Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 282.1% during the fourth 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. purchased a new stake in Berkshire Hills Bancorp during the third quarter valued at about $34,000. KBC Group NV boosted its holdings in shares of 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 during the period. Plimoth Trust Co. LLC purchased a new position in shares of Berkshire Hills Bancorp in the fourth quarter worth approximately $204,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Berkshire Hills Bancorp during the third quarter valued at approximately $215,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of NYSE:BHLB opened at $26.63 on Friday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 18.49 and a beta of 0.85. 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 business has a fifty day simple moving average of $28.02 and a 200 day simple moving average of $28.26.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping 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 predict that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.70%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio is 50.00%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective 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. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Seaport Res Ptn 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 target price on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. 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. According to MarketBeat.com, Berkshire Hills Bancorp presently has a consensus 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.