Berkshire Hills Bancorp, Inc. (BHLB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,840 shares of the savings and loans company’s stock after selling 698 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Berkshire Hills Bancorp were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 8.8% in the third quarter. BlackRock Inc. now owns 5,942,938 shares of the savings and loans company’s stock worth $241,880,000 after acquiring an additional 478,461 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Berkshire Hills Bancorp by 4.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,821,362 shares of the savings and loans company’s stock worth $155,529,000 after acquiring an additional 153,198 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,794,369 shares of the savings and loans company’s stock worth $154,431,000 after acquiring an additional 97,393 shares during the period. Vanguard Group Inc boosted its holdings in shares of Berkshire Hills Bancorp by 2.6% in the third quarter. Vanguard Group Inc now owns 3,794,369 shares of the savings and loans company’s stock worth $154,431,000 after acquiring an additional 97,393 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Berkshire Hills Bancorp by 0.5% in the fourth quarter. LSV Asset Management now owns 1,344,723 shares of the savings and loans company’s stock worth $36,267,000 after acquiring an additional 6,486 shares during the period. 74.88% of the stock is owned by institutional investors and hedge funds.

NYSE:BHLB traded down $0.79 during trading hours on Monday, hitting $28.97. 134,100 shares of the company’s stock traded hands, compared to its average volume of 267,082. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.69 and a beta of 1.06. Berkshire Hills Bancorp, Inc. has a 52 week low of $25.77 and a 52 week high of $44.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.92.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Wednesday, January 23rd. The savings and loans company reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.03). The business had revenue of $114.47 million for the quarter, compared to the consensus estimate of $118.05 million. Berkshire Hills Bancorp had a net margin of 18.20% and a return on equity of 8.44%. Equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.69 earnings per share for the current fiscal year.

In related news, Director Patrick J. Sheehan sold 28,100 shares of Berkshire Hills Bancorp stock in a transaction 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 sale, the director now owns 2,226 shares of the company’s stock, valued at $68,004.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wm Gordon Prescott acquired 1,050 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were acquired at an average cost of $29.17 per share, with a total value of $30,628.50. Following the purchase, the executive vice president now directly owns 5,620 shares of the company’s stock, valued at approximately $163,935.40. The disclosure for this purchase can be found here. Insiders have purchased 1,437 shares of company stock valued at $42,621 in the last three months. 1.60% of the stock is owned by corporate insiders.

BHLB has been the subject of a number of analyst reports. TheStreet lowered Berkshire Hills Bancorp from a “b-” rating to a “c+” rating in a report on Friday, January 4th. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Compass Point set a $24.00 price target on Berkshire Hills Bancorp and gave the stock a “sell” rating in a report on Friday, January 25th. Finally, ValuEngine lowered Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, March 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average 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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