Plimoth Trust Co. LLC purchased a new stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,892 shares of the savings and loans company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC bought a new position in Berkshire Hills Bancorp in the 4th quarter valued at $909,000. Norges Bank bought a new position in Berkshire Hills Bancorp in the 4th quarter valued at $10,435,000. Foundry Partners LLC boosted its holdings in Berkshire Hills Bancorp by 10.6% in the 1st quarter. Foundry Partners LLC now owns 220,752 shares of the savings and loans company’s stock valued at $6,013,000 after purchasing an additional 21,206 shares during the period. Brinker Capital Inc. boosted its holdings in Berkshire Hills Bancorp by 46.0% in the 1st quarter. Brinker Capital Inc. now owns 13,090 shares of the savings and loans company’s stock valued at $357,000 after purchasing an additional 4,127 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Berkshire Hills Bancorp by 757.5% during the 1st 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. 71.71% of the stock is currently owned by hedge funds and other institutional investors.

In other Berkshire Hills Bancorp news, Director Rheo A. Brouillard sold 9,454 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $32.80, for a total value of $310,091.20. Following the transaction, the director now owns 21,004 shares in the company, valued at $688,931.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.76% of the stock is owned by company insiders.

BHLB has been the subject of a number of research analyst reports. Piper Jaffray Companies initiated coverage on shares of Berkshire Hills Bancorp in a report on Friday, May 31st. They set a “neutral” rating and a $33.00 price objective for the company. Sandler O’Neill downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “sell” rating in a report on Thursday, August 8th. Compass Point raised shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Wednesday, July 24th. Finally, TheStreet raised shares of Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $32.20.

NYSE:BHLB traded up $0.22 during trading hours on Wednesday, reaching $29.50. The company’s stock had a trading volume of 49,668 shares, compared to its average volume of 202,436. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.89 and a beta of 1.06. The firm has a 50-day simple moving average of $30.78 and a 200-day simple moving average of $29.99. Berkshire Hills Bancorp, Inc. has a 1 year low of $25.77 and a 1 year high of $43.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.93.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $109.11 million for the quarter, compared to analysts’ expectations of $114.10 million. Berkshire Hills Bancorp had a net margin of 16.28% and a return on equity of 7.76%. Equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Wednesday, August 7th. Berkshire Hills Bancorp’s payout ratio is presently 33.95%.

Berkshire Hills Bancorp 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.

Further Reading: What are the benefits of momentum investing?

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

Receive News & Ratings for Berkshire Hills Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berkshire Hills Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.