Berkshire Hills Bancorp, Inc. (BHLB) Stake Raised by Systematic Financial Management LP

Systematic Financial Management LP raised its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 21.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 587,647 shares of the savings and loans company’s stock after buying an additional 105,232 shares during the quarter. Systematic Financial Management LP owned about 1.45% of Berkshire Hills Bancorp worth $22,771,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BHLB. Vanguard Group Inc. grew its position in shares of Berkshire Hills Bancorp by 20.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock worth $109,814,000 after buying an additional 540,080 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $15,179,000. Koch Industries Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter worth approximately $288,000. Peregrine Capital Management LLC bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter worth approximately $10,514,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Berkshire Hills Bancorp by 29.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,137,717 shares of the savings and loans company’s stock worth $39,991,000 after buying an additional 255,429 shares during the last quarter. Hedge funds and other institutional investors own 67.40% of the company’s stock.

Shares of Berkshire Hills Bancorp, Inc. (BHLB) traded up $0.55 during trading hours on Tuesday, reaching $37.35. The company’s stock had a trading volume of 130,100 shares, compared to its average volume of 211,679. The stock has a market capitalization of $1,665.84, a PE ratio of 16.14 and a beta of 0.69. Berkshire Hills Bancorp, Inc. has a 1-year low of $32.80 and a 1-year high of $40.00. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Berkshire Hills Bancorp had a return on equity of 6.93% and a net margin of 15.54%. The firm had revenue of $100.83 million during the quarter, compared to analysts’ expectations of $107.60 million. sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, November 8th. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.16%.

BHLB has been the topic of several research reports. Piper Jaffray Companies restated a “buy” rating and set a $39.50 price target on shares of Berkshire Hills Bancorp in a research report on Sunday, October 22nd. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, September 11th. Jefferies Group LLC restated a “hold” rating and set a $38.00 price target on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. BidaskClub upgraded Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Finally, FIG Partners restated an “outperform” rating and set a $41.00 price target on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $40.90.

In other news, insider Michael P. Daly sold 25,000 shares of the business’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 completion of the transaction, the insider now owns 103,670 shares in the company, valued at $3,501,972.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.71% of the stock is owned by insiders.

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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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