Hillcrest Asset Management LLC Takes $8.34 Million Position in Berkshire Hills Bancorp, Inc. (BHLB)

Hillcrest Asset Management LLC bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 215,335 shares of the savings and loans company’s stock, valued at approximately $8,344,000. Hillcrest Asset Management LLC owned 0.53% of Berkshire Hills Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BHLB. New York State Teachers Retirement System increased its position in shares of Berkshire Hills Bancorp by 7.4% during the first quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock worth $105,000 after acquiring an additional 200 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Berkshire Hills Bancorp during the first quarter worth $109,000. Ameritas Investment Partners Inc. increased its position in shares of Berkshire Hills Bancorp by 11.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock worth $110,000 after acquiring an additional 318 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Berkshire Hills Bancorp during the second quarter worth $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Berkshire Hills Bancorp by 263.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock worth $121,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 74.64% of the company’s stock.

A number of research analysts recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $39.50 target price on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $41.00 target price on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Berkshire Hills Bancorp in a research report on Wednesday, October 11th. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, BidaskClub raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Berkshire Hills Bancorp currently has an average rating of “Hold” and an average price target of $38.92.

In other news, insider Michael P. Daly sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $33.78, for a total transaction of $844,500.00. Following the completion of the sale, the insider now owns 103,670 shares in the company, valued at approximately $3,501,972.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard M. Marotta sold 9,500 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $33.32, for a total transaction of $316,540.00. Following the sale, the executive vice president now owns 28,523 shares of the company’s stock, valued at approximately $950,386.36. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

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Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) traded up $0.25 during mid-day trading on Monday, reaching $36.20. 177,200 shares of the company’s stock were exchanged, compared to its average volume of 213,626. The firm has a market capitalization of $1,638.68, a PE ratio of 15.88 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Berkshire Hills Bancorp, Inc. has a 12-month low of $30.90 and a 12-month high of $40.00.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $100.83 million during the quarter, compared to analysts’ expectations of $107.60 million. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, November 8th. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.16%.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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