Berkshire Hills Bancorp, Inc. (NYSE:BHLB) CEO Buys $24,222.00 in Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) CEO Nitin J. Mhatre bought 1,100 shares of Berkshire Hills Bancorp stock in a transaction dated Thursday, April 25th. The stock was acquired at an average price of $22.02 per share, with a total value of $24,222.00. Following the acquisition, the chief executive officer now directly owns 88,799 shares of the company’s stock, valued at $1,955,353.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Berkshire Hills Bancorp Trading Up 0.0 %

Shares of BHLB stock traded up $0.01 on Friday, hitting $22.11. The stock had a trading volume of 70,574 shares, compared to its average volume of 239,104. Berkshire Hills Bancorp, Inc. has a twelve month low of $18.07 and a twelve month high of $25.79. The firm has a market cap of $960.90 million, a P/E ratio of 44.20 and a beta of 0.87. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average price of $21.88 and a two-hundred day moving average price of $22.25.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. 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 posted $0.63 EPS. As a group, analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.05 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.26%. Berkshire Hills Bancorp’s payout ratio is 144.00%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at about $219,000. Teton Advisors Inc. acquired a new position in Berkshire Hills Bancorp in the 4th quarter valued at about $240,000. Private Advisor Group LLC acquired a new position in Berkshire Hills Bancorp in the 3rd quarter valued at about $202,000. J.W. Cole Advisors Inc. acquired a new position in Berkshire Hills Bancorp in the 4th quarter valued at about $258,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 valued at $297,000 after buying an additional 4,287 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BHLB shares. Keefe, Bruyette & Woods increased their price objective on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 26th. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Monday, January 29th. 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 report on Wednesday, January 10th. Finally, StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, Berkshire Hills Bancorp has an average rating of “Hold” and an average target price of $25.00.

About Berkshire Hills Bancorp

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.