Ellen Tulchiner Sells 1,052 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE BHLB opened at $29.35 on Friday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 20.38 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a one year low of $20.50 and a one year high of $32.36. The business has a fifty day simple moving average of $28.86 and a 200 day simple moving average of $28.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. Sell-side analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio is 50.00%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Several large investors have recently modified their holdings of BHLB. Smartleaf Asset Management LLC lifted its position in shares of Berkshire Hills Bancorp by 282.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock worth $31,000 after buying an additional 821 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Berkshire Hills Bancorp during the third quarter worth $34,000. Quarry LP lifted its holdings in shares of Berkshire Hills Bancorp by 142.7% during the fourth quarter. Quarry LP now owns 1,291 shares of the savings and loans company’s stock valued at $37,000 after acquiring an additional 759 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Berkshire Hills Bancorp by 805.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company’s stock valued at $39,000 after acquiring an additional 1,224 shares during the period. Finally, nVerses Capital LLC boosted its stake in shares of Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after purchasing an additional 1,400 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a report on Tuesday, December 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Piper Sandler raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.13.

Berkshire Hills Bancorp Company 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.