Bank of New York Mellon Corp Has $25.52 Million Position in Berkshire Hills Bancorp, Inc. (BHLB)

Bank of New York Mellon Corp increased its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 62.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 628,616 shares of the savings and loans company’s stock after buying an additional 240,647 shares during the quarter. Bank of New York Mellon Corp owned about 1.38% of Berkshire Hills Bancorp worth $25,522,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BHLB. Principal Financial Group Inc. lifted its position in Berkshire Hills Bancorp by 5,532.8% during the first quarter. Principal Financial Group Inc. now owns 373,677 shares of the savings and loans company’s stock worth $14,181,000 after buying an additional 367,043 shares in the last quarter. Foundry Partners LLC lifted its position in Berkshire Hills Bancorp by 958.9% during the first quarter. Foundry Partners LLC now owns 160,372 shares of the savings and loans company’s stock worth $6,086,000 after buying an additional 145,227 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Berkshire Hills Bancorp by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,530,095 shares of the savings and loans company’s stock worth $133,968,000 after buying an additional 136,750 shares in the last quarter. Sei Investments Co. lifted its position in Berkshire Hills Bancorp by 1,405.7% during the second quarter. Sei Investments Co. now owns 131,855 shares of the savings and loans company’s stock worth $5,353,000 after buying an additional 123,098 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Berkshire Hills Bancorp by 695.8% during the first quarter. Thrivent Financial for Lutherans now owns 132,124 shares of the savings and loans company’s stock worth $5,014,000 after buying an additional 115,522 shares in the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.

BHLB stock opened at $41.65 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 18.19 and a beta of 0.73. Berkshire Hills Bancorp, Inc. has a 52-week low of $33.90 and a 52-week high of $44.25.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Wednesday, July 18th. The savings and loans company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $121.15 million during the quarter, compared to analysts’ expectations of $122.23 million. Berkshire Hills Bancorp had a return on equity of 8.02% and a net margin of 14.79%. equities research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.88 annualized dividend and a yield of 2.11%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 38.43%.

BHLB has been the topic of a number of analyst reports. Compass Point downgraded Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 price objective on the stock. in a research report on Tuesday, June 12th. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Friday, May 25th. Piper Jaffray Companies downgraded Berkshire Hills Bancorp from an “overweight” rating to a “neutral” rating in a research report on Friday, June 8th. Cowen upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Thursday, July 19th. Finally, FIG Partners cut Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Berkshire Hills Bancorp currently has a consensus rating of “Hold” and a consensus price target of $41.07.

Berkshire Hills Bancorp Profile

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

Read More: Stock Symbol

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Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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