Ironwood Investment Management LLC Sells 647 Shares of Berkshire Hills Bancorp, Inc. (BHLB)

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Ironwood Investment Management LLC lowered its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 2.7% in the first quarter, Holdings Channel reports. The fund owned 23,103 shares of the savings and loans company’s stock after selling 647 shares during the period. Ironwood Investment Management LLC’s holdings in Berkshire Hills Bancorp were worth $629,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BHLB. Versant Capital Management Inc increased its holdings in Berkshire Hills Bancorp by 757.5% in the first quarter. Versant Capital Management Inc now owns 1,535 shares of the savings and loans company’s stock valued at $41,000 after purchasing an additional 1,356 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Berkshire Hills Bancorp in the first quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Berkshire Hills Bancorp by 23.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,731 shares of the savings and loans company’s stock valued at $74,000 after acquiring an additional 527 shares during the period. Meeder Asset Management Inc. acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at about $75,000. Finally, Peoples Financial Services CORP. acquired a new position in Berkshire Hills Bancorp in the first quarter valued at about $193,000. Institutional investors own 76.27% of the company’s stock.

In related news, Director Patrick J. Sheehan sold 28,100 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $30.55, for a total transaction of $858,455.00. Following the completion of the transaction, the director now directly owns 2,226 shares of the company’s stock, valued at $68,004.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick J. Sheehan sold 9,938 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $30.50, for a total value of $303,109.00. Following the transaction, the director now directly owns 2,226 shares of the company’s stock, valued at $67,893. The disclosure for this sale can be found here. 10.76% of the stock is owned by corporate insiders.

Shares of BHLB stock traded down $0.29 on Thursday, hitting $30.54. 256,698 shares of the stock were exchanged, compared to its average volume of 375,106. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $1.40 billion, a P/E ratio of 11.27 and a beta of 1.09. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $44.25.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Monday, April 29th. The savings and loans company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). The firm had revenue of $107.18 million for the quarter, compared to analyst estimates of $114.40 million. Berkshire Hills Bancorp had a return on equity of 8.19% and a net margin of 17.74%. Equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.92 annualized dividend and a dividend yield of 3.01%. Berkshire Hills Bancorp’s dividend payout ratio is currently 33.95%.

A number of research firms have issued reports on BHLB. TheStreet raised Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a research note on Wednesday, May 8th. FIG Partners reissued a “market-perform” rating on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 1st. ValuEngine cut Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, March 25th. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Finally, Compass Point set a $24.00 target price on Berkshire Hills Bancorp and gave the company a “sell” rating in a research note on Friday, January 25th. Two 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’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.00.

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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.

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

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