Plimoth Trust Co. LLC Purchases Shares of 7,184 Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Plimoth Trust Co. LLC purchased a new stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,184 shares of the savings and loans company’s stock, valued at approximately $204,000.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position 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 purchasing an additional 18,307 shares during the last quarter. Wellington Management Group LLP increased its position in Berkshire Hills Bancorp by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock worth $44,815,000 after purchasing an additional 293,784 shares during the last quarter. Systematic Financial Management LP increased its position in Berkshire Hills Bancorp by 13.7% in the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock worth $25,654,000 after purchasing an additional 114,433 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Berkshire Hills Bancorp by 28.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company’s stock valued at $9,175,000 after acquiring an additional 75,476 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $6,672,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Price Performance

Berkshire Hills Bancorp stock traded up $0.12 during trading on Wednesday, reaching $28.95. The company had a trading volume of 28,865 shares, compared to its average volume of 369,163. The firm’s 50-day simple moving average is $29.16 and its 200 day simple moving average is $27.90. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The firm has a market capitalization of $1.24 billion, a PE ratio of 30.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 2.49%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 75.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research note on Tuesday, December 24th. Royal Bank of Canada dropped their target price on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Tuesday, December 17th. Piper Sandler upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, 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. Four equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.