Clover Partners L.P. bought a new position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 55,000 shares of the savings and loans company’s stock, valued at approximately $2,013,000. Berkshire Hills Bancorp comprises about 1.9% of Clover Partners L.P.’s investment portfolio, making the stock its 20th largest position. Clover Partners L.P. owned 0.12% of Berkshire Hills Bancorp as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Berkshire Hills Bancorp by 6.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,215,961 shares of the savings and loans company’s stock valued at $124,617,000 after buying an additional 192,322 shares during the last quarter. BlackRock Inc. grew its position in shares of Berkshire Hills Bancorp by 3.7% during the 4th quarter. BlackRock Inc. now owns 2,697,100 shares of the savings and loans company’s stock valued at $98,713,000 after buying an additional 96,719 shares during the last quarter. LSV Asset Management grew its position in shares of Berkshire Hills Bancorp by 1.4% during the 4th quarter. LSV Asset Management now owns 1,322,538 shares of the savings and loans company’s stock valued at $48,404,000 after buying an additional 18,500 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Berkshire Hills Bancorp by 17.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,061,154 shares of the savings and loans company’s stock valued at $41,119,000 after buying an additional 158,961 shares during the last quarter. Finally, Jacobs Asset Management LLC grew its position in shares of Berkshire Hills Bancorp by 1.2% during the 3rd quarter. Jacobs Asset Management LLC now owns 836,034 shares of the savings and loans company’s stock valued at $32,396,000 after buying an additional 10,000 shares during the last quarter. 68.88% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday. Piper Jaffray Companies reissued a “buy” rating and set a $42.50 target price on shares of Berkshire Hills Bancorp in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $41.30.
Berkshire Hills Bancorp, Inc. (BHLB) opened at $39.75 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.92. The stock has a market cap of $1,794.36, a PE ratio of 17.20 and a beta of 0.70. Berkshire Hills Bancorp, Inc. has a one year low of $32.85 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $115.66 million during 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 7.09%. equities research analysts predict that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, February 14th. Berkshire Hills Bancorp’s payout ratio is presently 59.46%.
TRADEMARK VIOLATION WARNING: This piece of content was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/14/clover-partners-l-p-takes-position-in-berkshire-hills-bancorp-inc-bhlb.html.
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.
Receive News & Ratings for Berkshire Hills Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.