Berkshire Hills Bancorp, Inc. (BHLB) Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 203.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,681 shares of the savings and loans company’s stock after acquiring an additional 56,078 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Berkshire Hills Bancorp worth $2,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Securities LLC bought a new stake in shares of Berkshire Hills Bancorp in the 1st quarter worth $317,000. Stieven Capital Advisors L.P. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth $5,080,000. Vanguard Group Inc. grew its stake in shares of Berkshire Hills Bancorp by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 2,584,068 shares of the savings and loans company’s stock worth $93,155,000 after acquiring an additional 239,543 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth $15,179,000. Finally, State Street Corp grew its stake in shares of Berkshire Hills Bancorp by 21.5% in the 1st quarter. State Street Corp now owns 1,056,853 shares of the savings and loans company’s stock worth $38,096,000 after acquiring an additional 186,950 shares in the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.

Several equities analysts recently weighed in on the stock. FIG Partners restated an “outperform” rating and set a $41.00 price target on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. Jefferies Group LLC restated a “hold” rating and set a $38.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. BidaskClub lowered shares of Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies upgraded shares of Berkshire Hills Bancorp from a “neutral” rating to an “overweight” rating and set a $39.50 price target for the company in a research report on Thursday, September 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Berkshire Hills Bancorp presently has a consensus rating of “Buy” and a consensus price target of $38.92.

Berkshire Hills Bancorp, Inc. (BHLB) opened at 39.15 on Thursday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 21.62 and a beta of 0.67. The company’s 50-day moving average is $35.76 and its 200 day moving average is $35.80. Berkshire Hills Bancorp, Inc. has a 52-week low of $27.25 and a 52-week high of $39.75.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings data on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.03%. The company had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million. Equities analysts forecast that Berkshire Hills Bancorp, Inc. will post $2.26 earnings per share for the current fiscal year.

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In related news, EVP Richard M. Marotta sold 9,500 shares of Berkshire Hills Bancorp stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the completion of the sale, the executive vice president now directly owns 28,523 shares in the company, valued at approximately $950,386.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Daly sold 25,000 shares of Berkshire Hills Bancorp stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $33.78, for a total value of $844,500.00. Following the completion of the sale, the insider now owns 103,670 shares of the company’s stock, valued at $3,501,972.60. The disclosure for this sale can be found here. 2.82% of the stock is currently owned by company insiders.

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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