Patrick J. Sheehan Purchases 1,000 Shares of Berkshire Hills Bancorp, Inc. (BHLB) Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director Patrick J. Sheehan acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $37.00 per share, with a total value of $37,000.00. Following the acquisition, the director now owns 1,168 shares of the company’s stock, valued at approximately $43,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) traded up $0.30 during trading on Friday, reaching $36.90. The company had a trading volume of 64,147 shares, compared to its average volume of 218,511. The stock has a market capitalization of $1,689.32, a price-to-earnings ratio of 16.22 and a beta of 0.70. Berkshire Hills Bancorp, Inc. has a 52 week low of $32.85 and a 52 week 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 issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $115.66 million during the quarter, compared to analyst estimates of $115.50 million. Berkshire Hills Bancorp had a return on equity of 7.44% and a net margin of 11.37%. equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.38%. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, February 14th. Berkshire Hills Bancorp’s dividend payout ratio is presently 56.76%.

A number of institutional investors have recently modified their holdings of BHLB. Vanguard Group Inc. grew its stake in shares of Berkshire Hills Bancorp by 20.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock valued at $109,814,000 after buying an additional 540,080 shares during the period. Koch Industries Inc. bought a new stake in Berkshire Hills Bancorp in the 2nd quarter valued at about $288,000. Peregrine Capital Management LLC bought a new stake in Berkshire Hills Bancorp in the 3rd quarter valued at about $10,514,000. The Manufacturers Life Insurance Company raised its stake in 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 valued at $39,991,000 after acquiring an additional 255,429 shares during the period. Finally, Hillcrest Asset Management LLC bought a new stake in Berkshire Hills Bancorp in the 3rd quarter valued at about $8,344,000. Institutional investors own 66.82% of the company’s stock.

BHLB has been the subject of a number of research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $39.50 price objective on shares of Berkshire Hills Bancorp in a report on Sunday, October 22nd. Zacks Investment Research cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, BidaskClub cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.30.

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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.

Insider Buying and Selling by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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