9,660 Shares in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Purchased by Teton Advisors Inc.

Teton Advisors Inc. acquired a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,660 shares of the savings and loans company’s stock, valued at approximately $240,000.

Several other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Berkshire Hills Bancorp in the 4th quarter worth about $219,000. Private Advisor Group LLC bought a new stake in shares of Berkshire Hills Bancorp during the 3rd quarter valued at about $202,000. J.W. Cole Advisors Inc. bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter valued at about $258,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Berkshire Hills Bancorp by 55.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,967 shares of the savings and loans company’s stock worth $297,000 after buying an additional 4,287 shares during the last quarter. Finally, Berkshire Bank lifted its position in Berkshire Hills Bancorp by 15.5% in the 3rd quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock worth $252,000 after buying an additional 1,691 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Trading Up 1.7 %

Shares of BHLB traded up $0.38 during mid-day trading on Thursday, hitting $22.29. 137,485 shares of the company’s stock traded hands, compared to its average volume of 239,497. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Berkshire Hills Bancorp, Inc. has a 1 year low of $18.07 and a 1 year high of $25.79. The firm has a market capitalization of $968.72 million, a P/E ratio of 43.82 and a beta of 0.87. The business’s 50-day moving average price is $21.83 and its 200-day moving average price is $22.30.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. The firm had revenue of $169.32 million for the quarter, compared to analysts’ expectations of $107.89 million. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, sell-side analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.05 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.23%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 144.00%.

Insider Activity

In related news, Director Michael Zaitzeff sold 29,062 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $23.09, for a total value of $671,041.58. Following the sale, the director now directly owns 127,147 shares of the company’s stock, valued at $2,935,824.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Michael Zaitzeff sold 29,062 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $23.09, for a total value of $671,041.58. Following the sale, the director now directly owns 127,147 shares of the company’s stock, valued at $2,935,824.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Baye Adofo-Wilson sold 10,074 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,850 shares of company stock valued at $3,437,063. Company insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BHLB shares. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 26th. Seaport Res Ptn raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods lifted their price target on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. StockNews.com cut Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Piper Sandler raised Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Berkshire Hills Bancorp 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.