Berkshire Hills Bancorp, Inc. (NYSE:BHLB) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 1,679,500 shares, a decline of 46.3% from the April 30th total of 3,126,500 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average trading volume of 298,300 shares, the days-to-cover ratio is presently 5.6 days.

Shares of BHLB traded down $0.02 during trading hours on Monday, reaching $30.21. 6,806 shares of the company traded hands, compared to its average volume of 241,194. The firm has a fifty day moving average price of $30.15. The stock has a market cap of $1.37 billion, a P/E ratio of 11.14 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. Berkshire Hills Bancorp has a 12 month low of $25.77 and a 12 month high of $44.25.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Monday, April 29th. The savings and loans company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The company had revenue of $107.18 million for the quarter, compared to the consensus estimate of $114.40 million. Berkshire Hills Bancorp had a net margin of 17.74% and a return on equity of 8.19%. Equities analysts anticipate that Berkshire Hills Bancorp will post 2.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Wednesday, May 8th. Berkshire Hills Bancorp’s payout ratio is 33.95%.

BHLB has been the topic of a number of analyst reports. TheStreet upgraded shares of Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 4th. FIG Partners reaffirmed a “market-perform” rating on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 1st. Piper Jaffray Companies started coverage on shares of Berkshire Hills Bancorp in a research note on Friday, May 31st. They set a “neutral” rating and a $33.00 target price on the stock. Finally, ValuEngine raised shares of Berkshire Hills Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.25.

Several institutional investors and hedge funds have recently made changes to their positions in BHLB. Versant Capital Management Inc boosted its position in shares of Berkshire Hills Bancorp by 757.5% during the first quarter. Versant Capital Management Inc now owns 1,535 shares of the savings and loans company’s stock worth $41,000 after acquiring an additional 1,356 shares during the last quarter. Ellis Investment Partners LLC bought a new position in shares of Berkshire Hills Bancorp during the first quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Berkshire Hills Bancorp by 23.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,731 shares of the savings and loans company’s stock worth $74,000 after acquiring an additional 527 shares during the last quarter. Peoples Financial Services CORP. bought a new position in shares of Berkshire Hills Bancorp during the first quarter worth $193,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Berkshire Hills Bancorp during the first quarter worth $243,000. 77.40% of the stock is currently owned by hedge funds and other institutional investors.

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Berkshire Hills Bancorp Company 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.

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