ELCO Management Co. LLC acquired a new position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,806 shares of the savings and loans company’s stock, valued at approximately $345,000.

A number of other hedge funds have also recently modified their holdings of BHLB. Vanguard Group Inc. raised its stake in Berkshire Hills Bancorp by 20.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,124,148 shares of the savings and loans company’s stock valued at $109,814,000 after purchasing an additional 540,080 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Berkshire Hills Bancorp by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,023,639 shares of the savings and loans company’s stock valued at $106,281,000 after purchasing an additional 202,898 shares in the last quarter. State Street Corp lifted its holdings in Berkshire Hills Bancorp by 21.5% in the 1st quarter. State Street Corp now owns 1,056,853 shares of the savings and loans company’s stock valued at $38,096,000 after purchasing an additional 186,950 shares in the last quarter. LSV Asset Management lifted its holdings in Berkshire Hills Bancorp by 2.8% in the 2nd quarter. LSV Asset Management now owns 1,053,520 shares of the savings and loans company’s stock valued at $37,031,000 after purchasing an additional 29,100 shares in the last quarter. Finally, Jacobs Asset Management LLC lifted its holdings in Berkshire Hills Bancorp by 7.4% in the 2nd quarter. Jacobs Asset Management LLC now owns 826,034 shares of the savings and loans company’s stock valued at $29,036,000 after purchasing an additional 57,238 shares in the last quarter. 74.09% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Richard L. Murphy purchased 1,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $34.25 per share, with a total value of $34,250.00. Following the purchase, the director now owns 9,668 shares in the company, valued at approximately $331,129. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard M. Marotta sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the completion of the sale, the executive vice president now directly owns 28,523 shares of the company’s stock, valued at approximately $950,386.36. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

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Shares of Berkshire Hills Bancorp, Inc. (NYSE BHLB) traded down 1.66% on Wednesday, hitting $38.60. The company had a trading volume of 53,282 shares. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 21.31 and a beta of 0.67. Berkshire Hills Bancorp, Inc. has a 12-month low of $27.25 and a 12-month high of $39.75. The company has a 50 day moving average of $34.89 and a 200-day moving average of $35.64.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The business had revenue of $102.34 million during the quarter, compared to analysts’ expectations of $102.75 million. On average, analysts forecast that Berkshire Hills Bancorp, Inc. will post $2.26 earnings per share for the current year.

BHLB has been the topic of several analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $41.00 price objective on shares of Berkshire Hills Bancorp in a report on Tuesday. BidaskClub upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. FIG Partners reiterated an “outperform” rating and issued a $41.00 target price on shares of Berkshire Hills Bancorp in a research note on Wednesday, September 20th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $38.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, September 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.08.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

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

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