Zurcher Kantonalbank Zurich Cantonalbank Has $297,000 Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 55.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,967 shares of the savings and loans company’s stock after purchasing an additional 4,287 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Berkshire Hills Bancorp were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in BHLB. SG Americas Securities LLC acquired a new position in Berkshire Hills Bancorp in the third quarter valued at approximately $481,000. Yousif Capital Management LLC boosted its stake in Berkshire Hills Bancorp by 2.8% during the third quarter. Yousif Capital Management LLC now owns 21,754 shares of the savings and loans company’s stock worth $436,000 after acquiring an additional 600 shares in the last quarter. Berkshire Bank grew its holdings in Berkshire Hills Bancorp by 15.5% in the third quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock worth $252,000 after purchasing an additional 1,691 shares during the period. Private Advisor Group LLC bought a new stake in Berkshire Hills Bancorp in the third quarter valued at $202,000. Finally, LSV Asset Management acquired a new position in shares of Berkshire Hills Bancorp during the third quarter valued at about $719,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Trading Up 0.3 %

Shares of Berkshire Hills Bancorp stock opened at $22.36 on Monday. The company has a market capitalization of $971.77 million, a P/E ratio of 44.72 and a beta of 0.87. The stock has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $22.33. Berkshire Hills Bancorp, Inc. has a 12-month low of $18.07 and a 12-month high of $25.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (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 during the quarter, compared to analyst estimates of $107.89 million. During the same quarter in the prior year, the business posted $0.63 EPS. On average, sell-side analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.06 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.22%. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on BHLB. Keefe, Bruyette & Woods raised their target price on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. Piper Sandler upgraded shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a research note on Wednesday, January 10th. Finally, StockNews.com lowered shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.00.

Insiders Place Their Bets

In related news, Director Michael Zaitzeff sold 29,062 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $23.09, for a total transaction of $671,041.58. Following the completion of the sale, the director now directly owns 127,147 shares of the company’s stock, valued at $2,935,824.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Michael Zaitzeff sold 29,062 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $23.09, for a total value of $671,041.58. Following the transaction, the director now directly owns 127,147 shares of the company’s stock, valued at approximately $2,935,824.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baye Adofo-Wilson sold 10,074 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $22.19, for a total transaction of $223,542.06. The disclosure for this sale can be found here. Insiders have sold a total of 152,850 shares of company stock valued at $3,437,063 in the last 90 days. 1.02% of the stock is currently owned by corporate insiders.

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.