State Board of Administration of Florida Retirement System Maintains Position in Berkshire Hills Bancorp, Inc. (BHLB)

State Board of Administration of Florida Retirement System held its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the first quarter, Holdings Channel reports. The firm owned 26,807 shares of the savings and loans company’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System owned approximately 0.08% of Berkshire Hills Bancorp worth $966,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BHLB. Russell Investments Group Ltd. purchased a new stake in shares of Berkshire Hills Bancorp during the fourth quarter valued at approximately $1,918,000. Bessemer Group Inc. increased its stake in shares of Berkshire Hills Bancorp by 2.8% in the fourth quarter. Bessemer Group Inc. now owns 47,603 shares of the savings and loans company’s stock valued at $1,754,000 after buying an additional 1,303 shares during the last quarter. State Street Corp increased its stake in shares of Berkshire Hills Bancorp by 29.8% in the fourth quarter. State Street Corp now owns 869,903 shares of the savings and loans company’s stock valued at $32,056,000 after buying an additional 199,795 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Berkshire Hills Bancorp by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,640,954 shares of the savings and loans company’s stock valued at $97,319,000 after buying an additional 63,927 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in shares of Berkshire Hills Bancorp by 91.6% in the fourth quarter. Martingale Asset Management L P now owns 155,242 shares of the savings and loans company’s stock valued at $5,721,000 after buying an additional 74,239 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

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

Berkshire Hills Bancorp, Inc. (NYSE BHLB) opened at 37.05 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of 20.58 and a beta of 0.60. Berkshire Hills Bancorp, Inc. has a one year low of $24.80 and a one year high of $38.65. The company’s 50-day moving average is $36.61 and its 200 day moving average is $35.79.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Monday, April 24th. The savings and loans company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. Berkshire Hills Bancorp had a net margin of 15.39% and a return on equity of 7.05%. The firm had revenue of $101.64 million for the quarter, compared to analyst estimates of $95.90 million. Equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post $2.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, May 9th. Berkshire Hills Bancorp’s dividend payout ratio is currently 46.41%.

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Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 target price on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, April 11th. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price objective on shares of Berkshire Hills Bancorp in a research report on Tuesday, April 4th. BidaskClub raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, FIG Partners raised shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Berkshire Hills Bancorp has a consensus rating of “Hold” and a consensus price target of $35.80.

Berkshire Hills Bancorp Company 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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