Wellington Management Group LLP Sells 611,988 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Wellington Management Group LLP decreased its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 36.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,052,150 shares of the savings and loans company’s stock after selling 611,988 shares during the period. Wellington Management Group LLP’s holdings in Berkshire Hills Bancorp were worth $29,913,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in Berkshire Hills Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after buying an additional 18,307 shares during the period. American Century Companies Inc. raised its position in shares of Berkshire Hills Bancorp by 0.4% in the 4th quarter. American Century Companies Inc. now owns 625,824 shares of the savings and loans company’s stock worth $17,792,000 after acquiring an additional 2,694 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Berkshire Hills Bancorp by 29.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 441,143 shares of the savings and loans company’s stock valued at $12,542,000 after purchasing an additional 99,538 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Berkshire Hills Bancorp by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,307 shares of the savings and loans company’s stock valued at $12,035,000 after purchasing an additional 15,383 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Berkshire Hills Bancorp by 28.0% in the fourth quarter. JPMorgan Chase & Co. now owns 243,995 shares of the savings and loans company’s stock worth $6,937,000 after purchasing an additional 53,322 shares during the period. Institutional investors own 83.07% of the company’s stock.

Insider Transactions at Berkshire Hills Bancorp

In other news, EVP Ellen Tulchiner sold 1,052 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Shares of NYSE BHLB opened at $23.53 on Monday. The firm has a market cap of $1.09 billion, a P/E ratio of 16.34 and a beta of 0.58. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $27.67 and a 200 day moving average of $28.24.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. As a group, research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is presently 50.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Keefe, Bruyette & Woods lifted their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research report on Tuesday, December 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Finally, Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Berkshire Hills Bancorp 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.