Martingale Asset Management L P cut its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 23.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 116,722 shares of the savings and loans company’s stock after selling 36,100 shares during the period. Martingale Asset Management L P owned 0.31% of Berkshire Hills Bancorp worth $4,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Berkshire Hills Bancorp during the 1st quarter valued at $101,000. New York State Teachers Retirement System grew its stake in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. New York State Teachers Retirement System now owns 2,900 shares of the savings and loans company’s stock valued at $105,000 after buying an additional 200 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Berkshire Hills Bancorp during the 1st quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Berkshire Hills Bancorp by 263.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the savings and loans company’s stock valued at $121,000 after buying an additional 2,500 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Berkshire Hills Bancorp by 129.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the savings and loans company’s stock valued at $154,000 after buying an additional 2,471 shares during the period. 74.11% of the stock is owned by institutional investors.

A number of analysts recently weighed in on BHLB shares. BidaskClub cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Piper Jaffray Companies raised 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. Finally, FIG Partners raised shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Berkshire Hills Bancorp currently has a consensus rating of “Hold” and a consensus price target of $37.30.

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) opened at 34.00 on Friday. Berkshire Hills Bancorp, Inc. has a 12 month low of $26.45 and a 12 month high of $38.65. The company’s 50-day moving average is $34.50 and its 200-day moving average is $35.46. The stock has a market capitalization of $1.36 billion, a PE ratio of 18.77 and a beta of 0.65.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, topping 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 company had revenue of $102.34 million for the quarter, compared to analyst estimates of $102.75 million. Equities research analysts expect that Berkshire Hills Bancorp, Inc. will post $2.29 earnings per share for the current fiscal year.

The firm 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. The ex-dividend date was Tuesday, August 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.47%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 46.15%.

In related news, EVP Richard M. Marotta sold 9,500 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Murphy bought 1,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $34.25 per share, for a total transaction of $34,250.00. Following the completion of the purchase, the director now directly owns 9,668 shares in the company, valued at approximately $331,129. The disclosure for this purchase can be found here. Corporate insiders own 2.82% of the company’s stock.

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

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