New York State Teachers Retirement System Sells 1,100 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

New York State Teachers Retirement System decreased its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,077 shares of the savings and loans company’s stock after selling 1,100 shares during the period. New York State Teachers Retirement System’s holdings in Berkshire Hills Bancorp were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Raymond James & Associates raised its stake in shares of Berkshire Hills Bancorp by 3.1% in the fourth quarter. Raymond James & Associates now owns 17,843 shares of the savings and loans company’s stock valued at $443,000 after acquiring an additional 541 shares during the last quarter. Ziegler Capital Management LLC raised its stake in shares of Berkshire Hills Bancorp by 6.9% in the fourth quarter. Ziegler Capital Management LLC now owns 30,221 shares of the savings and loans company’s stock valued at $750,000 after acquiring an additional 1,957 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Berkshire Hills Bancorp by 17.1% in the third quarter. Wellington Management Group LLP now owns 1,382,777 shares of the savings and loans company’s stock valued at $27,725,000 after acquiring an additional 201,948 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Berkshire Hills Bancorp by 15.4% in the third quarter. American Century Companies Inc. now owns 397,579 shares of the savings and loans company’s stock valued at $7,971,000 after acquiring an additional 53,162 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $469,000. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler raised shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Wednesday, January 10th. StockNews.com lowered shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Keefe, Bruyette & Woods raised their price target on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. Finally, Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Berkshire Hills Bancorp presently has a consensus rating of “Hold” and an average target price of $25.00.

Insiders Place Their Bets

In other news, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Zaitzeff sold 51,910 shares of Berkshire Hills Bancorp stock in a transaction on Monday, January 29th. The stock was sold at an average price of $25.18, for a total transaction of $1,307,093.80. Following the transaction, the director now directly owns 2,665 shares in the company, valued at $67,104.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 224,788 shares of company stock valued at $5,239,449. Company insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Price Performance

BHLB opened at $21.71 on Friday. The company has a fifty day moving average price of $21.91 and a two-hundred day moving average price of $22.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. Berkshire Hills Bancorp, Inc. has a 52 week low of $18.07 and a 52 week high of $25.79. The firm has a market capitalization of $943.60 million, a PE ratio of 13.57 and a beta of 0.87.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Berkshire Hills Bancorp had a net margin of 11.24% and a return on equity of 9.48%. The firm had revenue of $169.32 million during the quarter, compared to analyst estimates of $107.89 million. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.04 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio is presently 45.00%.

Berkshire Hills Bancorp Company 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.