Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Sold by EJF Capital LLC

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EJF Capital LLC trimmed its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 62.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,697 shares of the savings and loans company’s stock after selling 326,276 shares during the period. EJF Capital LLC owned 0.38% of Berkshire Hills Bancorp worth $6,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mason Street Advisors LLC increased its stake in shares of Berkshire Hills Bancorp by 3.7% during the 1st quarter. Mason Street Advisors LLC now owns 13,015 shares of the savings and loans company’s stock valued at $355,000 after acquiring an additional 462 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Berkshire Hills Bancorp by 4.4% during the 1st quarter. New York State Teachers Retirement System now owns 16,077 shares of the savings and loans company’s stock valued at $438,000 after purchasing an additional 671 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its stake in Berkshire Hills Bancorp by 7.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,315 shares of the savings and loans company’s stock valued at $281,000 after purchasing an additional 691 shares during the last quarter. Comerica Bank boosted its stake in Berkshire Hills Bancorp by 2.2% during the 1st quarter. Comerica Bank now owns 40,162 shares of the savings and loans company’s stock valued at $1,157,000 after purchasing an additional 859 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Berkshire Hills Bancorp during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

NYSE:BHLB traded up $0.03 during midday trading on Thursday, hitting $31.86. The company had a trading volume of 2,272 shares, compared to its average volume of 178,973. Berkshire Hills Bancorp, Inc. has a 52-week low of $25.77 and a 52-week high of $43.40. The stock’s fifty day moving average price is $30.04 and its 200-day moving average price is $30.05. The company has a market capitalization of $1.62 billion, a PE ratio of 11.77 and a beta of 1.10. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.23.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Berkshire Hills Bancorp had a net margin of 16.28% and a return on equity of 7.76%. The company had revenue of $109.11 million during the quarter, compared to analyst estimates of $114.10 million. As a group, research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.23 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.92 annualized dividend and a yield of 2.89%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 33.95%.

Several research firms have commented on BHLB. Piper Jaffray Companies began coverage on shares of Berkshire Hills Bancorp in a research report on Friday, May 31st. They set a “neutral” rating and a $33.00 target price on the stock. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, September 5th. DA Davidson reissued a “buy” rating on shares of Berkshire Hills Bancorp in a report on Monday, July 22nd. Sandler O’Neill cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a report on Tuesday, July 2nd. Finally, Compass Point raised shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.80.

In other Berkshire Hills Bancorp news, Director Rheo A. Brouillard sold 9,454 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $32.80, for a total value of $310,091.20. Following the completion of the sale, the director now directly owns 21,004 shares of the company’s stock, valued at $688,931.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.76% of the company’s stock.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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

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