Russell Investments Group Ltd. bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 52,118 shares of the savings and loans company’s stock, valued at approximately $1,918,000. Russell Investments Group Ltd. owned 0.17% of Berkshire Hills Bancorp at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EJF Capital LLC purchased a new stake in Berkshire Hills Bancorp during the third quarter valued at approximately $2,771,000. Bank of New York Mellon Corp raised its stake in Berkshire Hills Bancorp by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 260,591 shares of the savings and loans company’s stock valued at $7,221,000 after buying an additional 2,477 shares during the last quarter. Great Lakes Advisors LLC raised its stake in Berkshire Hills Bancorp by 18.9% in the third quarter. Great Lakes Advisors LLC now owns 214,414 shares of the savings and loans company’s stock valued at $5,941,000 after buying an additional 34,022 shares during the last quarter. Rothschild Asset Management Inc. raised its stake in Berkshire Hills Bancorp by 3.9% in the third quarter. Rothschild Asset Management Inc. now owns 685,871 shares of the savings and loans company’s stock valued at $19,005,000 after buying an additional 25,839 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Berkshire Hills Bancorp by 150.4% in the third quarter. Nordea Investment Management AB now owns 267,285 shares of the savings and loans company’s stock valued at $7,406,000 after buying an additional 160,555 shares during the last quarter. 65.45% of the stock is currently owned by institutional investors and hedge funds.
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) traded down 0.14% during trading on Friday, hitting $35.00. 94,567 shares of the company’s stock traded hands. The stock has a market cap of $1.23 billion, a P/E ratio of 18.62 and a beta of 0.60. Berkshire Hills Bancorp, Inc. has a 12-month low of $24.80 and a 12-month high of $37.45. The firm’s 50-day moving average price is $34.90 and its 200 day moving average price is $33.85.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Monday, January 30th. The savings and loans company reported $0.56 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $75.88 million for the quarter, compared to analyst estimates of $81.85 million. Berkshire Hills Bancorp had a net margin of 16.94% and a return on equity of 7.43%. Analysts anticipate that Berkshire Hills Bancorp, Inc. will post $2.34 earnings per share for the current fiscal year.
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Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Tuesday, April 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 target price on shares of Berkshire Hills Bancorp in a report on Tuesday, April 4th. Finally, Compass Point upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Tuesday, January 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $34.00.
About Berkshire Hills Bancorp
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.
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