Great Lakes Advisors LLC decreased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,690 shares of the savings and loans company’s stock after selling 5,581 shares during the period. Great Lakes Advisors LLC owned about 0.41% of Berkshire Hills Bancorp worth $5,367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TFS Capital LLC raised its position in shares of Berkshire Hills Bancorp by 11.5% in the first quarter. TFS Capital LLC now owns 7,714 shares of the savings and loans company’s stock worth $278,000 after buying an additional 797 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Berkshire Hills Bancorp during the first quarter worth approximately $695,000. Bank of New York Mellon Corp raised its position in shares of Berkshire Hills Bancorp by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 313,219 shares of the savings and loans company’s stock worth $11,292,000 after buying an additional 13,596 shares in the last quarter. Bbva Compass Bancshares Inc. raised its position in shares of Berkshire Hills Bancorp by 14.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 12,814 shares of the savings and loans company’s stock worth $462,000 after buying an additional 1,600 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Berkshire Hills Bancorp by 48.5% in the first quarter. American Century Companies Inc. now owns 153,610 shares of the savings and loans company’s stock worth $5,538,000 after buying an additional 50,164 shares in the last quarter. 62.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) opened at 34.30 on Friday. The stock’s 50 day moving average price is $35.37 and its 200 day moving average price is $35.62. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 18.94 and a beta of 0.63. Berkshire Hills Bancorp, Inc. has a 12-month low of $26.45 and a 12-month high of $38.65.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The firm had revenue of $102.34 million during the quarter, compared to the consensus estimate of $102.75 million. Equities research analysts expect that Berkshire Hills Bancorp, Inc. will post $2.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, August 8th. Berkshire Hills Bancorp’s dividend payout ratio is presently 46.15%.

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A number of brokerages have commented on BHLB. BidaskClub lowered Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Berkshire Hills Bancorp in a report on Monday, May 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Berkshire Hills Bancorp in a report on Wednesday, May 3rd. Zacks Investment Research raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, June 27th. Finally, FIG Partners raised Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.80.

In related news, EVP Richard M. Marotta sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the completion of the transaction, the executive vice president now owns 28,523 shares of the company’s stock, valued at $950,386.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Murphy acquired 1,000 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $34.25 per share, with a total value of $34,250.00. Following the purchase, the director now directly owns 9,668 shares of the company’s stock, valued at $331,129. The disclosure for this purchase can be found here. Insiders own 2.82% of the company’s stock.

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.

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

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