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| Top Buys by Top Brass: CEO Mhatre's $137K Bet on BHLBBy Dividend Channel Staff, Thursday, May 4, 10:03 AM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $137K invested across 2 purchases by Nitin J. Mhatre, CEO at Berkshire Hills Bancorp Inc (NYSE:BHLB). Mhatre bets big on BHLB:
Mhatre's average cost works out to $22.84/share. In trading on Thursday, bargain hunters could buy shares of Berkshire Hills Bancorp Inc (NYSE:BHLB) and achieve a cost basis lower than Mhatre, with shares changing hands as low as $18.88 per share. Shares of Berkshire Hills Bancorp Inc were changing hands at $18.85 at last check, trading off about 2.2% on Thursday. The chart below shows the one year performance of BHLB shares, versus its 200 day moving average:
Looking at the chart above, BHLB's low point in its 52 week range is $18.85 per share, with $31.63 as the 52 week high point — that compares with a last trade of $18.85. The current annualized dividend paid by Berkshire Hills Bancorp Inc is $0.72/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/15/2023. Below is a long-term dividend history chart for BHLB, which can be of good help in judging whether the most recent dividend with approx. 3.7% annualized yield is likely to continue.
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