JPMorgan Chase & Co. Lowers Stake in Berkshire Hills Bancorp, Inc. (BHLB)

JPMorgan Chase & Co. cut its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 46.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,406 shares of the savings and loans company’s stock after selling 39,275 shares during the period. JPMorgan Chase & Co.’s holdings in Berkshire Hills Bancorp were worth $1,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS Asset Management Americas Inc. grew its position in shares of Berkshire Hills Bancorp by 47.8% during the second quarter. UBS Asset Management Americas Inc. now owns 18,661 shares of the savings and loans company’s stock worth $656,000 after acquiring an additional 6,034 shares during the last quarter. Eagle Boston Investment Management Inc. grew its position in shares of Berkshire Hills Bancorp by 1.7% during the third quarter. Eagle Boston Investment Management Inc. now owns 268,482 shares of the savings and loans company’s stock worth $10,618,000 after acquiring an additional 4,408 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Berkshire Hills Bancorp during the second quarter worth approximately $288,000. ClariVest Asset Management LLC grew its position in shares of Berkshire Hills Bancorp by 4.2% during the third quarter. ClariVest Asset Management LLC now owns 311,696 shares of the savings and loans company’s stock worth $12,077,000 after acquiring an additional 12,506 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Berkshire Hills Bancorp by 266.9% during the third quarter. First Trust Advisors LP now owns 98,009 shares of the savings and loans company’s stock worth $3,798,000 after acquiring an additional 71,294 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.

In other Berkshire Hills Bancorp news, insider Michael D. Carroll sold 2,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $38.50, for a total value of $77,000.00. Following the completion of the sale, the insider now owns 7,255 shares of the company’s stock, valued at $279,317.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William J. Ryan bought 3,000 shares of Berkshire Hills Bancorp stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $37.87 per share, with a total value of $113,610.00. The disclosure for this purchase can be found here. Company insiders own 1.71% of the company’s stock.

Berkshire Hills Bancorp, Inc. (BHLB) opened at $37.30 on Wednesday. Berkshire Hills Bancorp, Inc. has a 1 year low of $32.85 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market cap of $1,686.21, a price-to-earnings ratio of 20.05 and a beta of 0.69.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, October 19th. The savings and loans company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Berkshire Hills Bancorp had a net margin of 15.54% and a return on equity of 6.93%. The firm had revenue of $100.83 million for the quarter, compared to analyst estimates of $107.60 million. equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.29 earnings per share for the current year.

BHLB has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Jefferies Group reiterated a “hold” rating and issued a $38.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. FIG Partners reiterated an “outperform” rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research report on Wednesday, September 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $41.00 price objective on shares of Berkshire Hills Bancorp in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.30.

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Berkshire Hills Bancorp 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.

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

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