Berkshire Hills Bancorp, Inc. (NYSE:BHLB) CEO Nitin J. Mhatre Purchases 1,100 Shares

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) CEO Nitin J. Mhatre purchased 1,100 shares of the stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $22.02 per share, with a total value of $24,222.00. Following the completion of the transaction, the chief executive officer now owns 88,799 shares of the company’s stock, valued at $1,955,353.98. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Berkshire Hills Bancorp Stock Down 0.1 %

BHLB opened at $22.08 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. Berkshire Hills Bancorp, Inc. has a one year low of $18.07 and a one year high of $25.79. The business’s 50-day simple moving average is $21.88 and its 200-day simple moving average is $22.25. The stock has a market capitalization of $959.60 million, a P/E ratio of 44.16 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $169.32 million for the quarter, compared to analyst estimates of $107.89 million. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same quarter in the previous year, the company earned $0.63 EPS. Analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.05 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Institutional investors have recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in shares of Berkshire Hills Bancorp during the 3rd quarter worth approximately $202,000. Victory Capital Management Inc. acquired a new position in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $219,000. Teton Advisors Inc. acquired a new position in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $240,000. Berkshire Bank raised its position in shares of Berkshire Hills Bancorp by 15.5% during the 3rd quarter. Berkshire Bank now owns 12,584 shares of the savings and loans company’s stock worth $252,000 after purchasing an additional 1,691 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Berkshire Hills Bancorp during the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BHLB. StockNews.com lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Keefe, Bruyette & Woods increased their price objective on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. Piper Sandler upgraded Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.00.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.