Insider Buying: Berkshire Hills Bancorp, Inc. (BHLB) Director Acquires 1,000 Shares of Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director Richard L. Murphy bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $37.00 per share, for a total transaction of $37,000.00. Following the acquisition, the director now directly owns 11,884 shares in the company, valued at approximately $439,708. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Berkshire Hills Bancorp, Inc. (BHLB) traded up $0.05 during trading on Tuesday, reaching $36.90. 96,970 shares of the company were exchanged, compared to its average volume of 218,849. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market cap of $1,689.32, a price-to-earnings ratio of 24.90 and a beta of 0.70. Berkshire Hills Bancorp, Inc. has a twelve month low of $32.85 and a twelve month high of $40.00.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $115.66 million for the quarter, compared to analyst estimates of $115.50 million. Berkshire Hills Bancorp had a net margin of 11.37% and a return on equity of 7.44%. research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current year.

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

A number of analysts recently weighed in on BHLB shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $39.50 target price on shares of Berkshire Hills Bancorp in a report on Sunday, October 22nd. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, BidaskClub lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $41.30.

Several large investors have recently modified their holdings of the company. MML Investors Services LLC bought a new position in shares of Berkshire Hills Bancorp in the 4th quarter worth $281,000. AXA increased its holdings in shares of Berkshire Hills Bancorp by 39.0% in the 4th quarter. AXA now owns 174,500 shares of the savings and loans company’s stock worth $6,387,000 after buying an additional 49,000 shares during the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of Berkshire Hills Bancorp by 47.3% in the 4th quarter. Kennedy Capital Management Inc. now owns 208,012 shares of the savings and loans company’s stock worth $7,613,000 after buying an additional 66,831 shares during the last quarter. FDx Advisors Inc. increased its holdings in shares of Berkshire Hills Bancorp by 82.4% in the 4th quarter. FDx Advisors Inc. now owns 10,211 shares of the savings and loans company’s stock worth $374,000 after buying an additional 4,612 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Berkshire Hills Bancorp by 17.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 22,591 shares of the savings and loans company’s stock worth $827,000 after buying an additional 3,300 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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About Berkshire Hills Bancorp

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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