PNC Financial Services Group Inc. increased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,690 shares of the savings and loans company’s stock after acquiring an additional 400 shares during the period. PNC Financial Services Group Inc.’s holdings in Berkshire Hills Bancorp were worth $306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Laurion Capital Management LP acquired a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $828,000. Stevens Capital Management LP acquired a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $472,000. Ameriprise Financial Inc. acquired a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $3,548,000. TIAA CREF Investment Management LLC grew its holdings in shares of Berkshire Hills Bancorp by 15.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 269,893 shares of the savings and loans company’s stock worth $9,487,000 after acquiring an additional 35,135 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Berkshire Hills Bancorp by 12.3% in the 2nd quarter. Teachers Advisors LLC now owns 76,751 shares of the savings and loans company’s stock worth $2,698,000 after acquiring an additional 8,399 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.

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A number of research firms recently weighed in on BHLB. Keefe, Bruyette & Woods restated a “buy” rating and issued a $41.00 price target on shares of Berkshire Hills Bancorp in a report on Tuesday, October 3rd. Jefferies Group LLC restated a “hold” rating and issued a $40.00 price target on shares of Berkshire Hills Bancorp in a report on Wednesday, October 11th. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Tuesday, October 10th. BidaskClub upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Finally, FIG Partners restated an “outperform” rating and issued a $41.00 price target on shares of Berkshire Hills Bancorp in a report on Wednesday, September 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Berkshire Hills Bancorp currently has an average rating of “Buy” and a consensus price target of $38.92.

Shares of Berkshire Hills Bancorp, Inc. (NYSE BHLB) opened at 39.65 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 21.89 and a beta of 0.67. Berkshire Hills Bancorp, Inc. has a one year low of $28.40 and a one year high of $40.00. The firm’s 50-day moving average price is $36.83 and its 200-day moving average price is $35.98.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, October 19th. The savings and loans company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $100.83 million for the quarter, compared to analysts’ expectations of $107.60 million. Berkshire Hills Bancorp had a return on equity of 7.13% and a net margin of 15.54%. Equities research analysts expect that Berkshire Hills Bancorp, Inc. will post $2.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.12%. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.16%.

In other Berkshire Hills Bancorp news, insider Michael P. Daly sold 25,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $33.78, for a total value of $844,500.00. Following the transaction, the insider now owns 103,670 shares of the company’s stock, valued at $3,501,972.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard L. Murphy purchased 1,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $34.25 per share, for a total transaction of $34,250.00. Following the acquisition, the director now directly owns 9,668 shares of the company’s stock, valued at approximately $331,129. The disclosure for this purchase can be found here. 2.82% of the stock is currently owned by corporate 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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