New York State Teachers Retirement System Reduces Stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

New York State Teachers Retirement System lessened its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,577 shares of the savings and loans company’s stock after selling 1,000 shares during the period. New York State Teachers Retirement System’s holdings in Berkshire Hills Bancorp were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Berkshire Hills Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,632,671 shares of the savings and loans company’s stock worth $60,024,000 after purchasing an additional 36,521 shares during the period. American Century Companies Inc. raised its position in shares of Berkshire Hills Bancorp by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company’s stock valued at $14,232,000 after buying an additional 38,327 shares during the period. Renaissance Technologies LLC lifted its holdings in Berkshire Hills Bancorp by 60.4% in the second quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock valued at $9,636,000 after acquiring an additional 159,200 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Berkshire Hills Bancorp in the second quarter worth approximately $6,330,000. Finally, Millennium Management LLC increased its stake in Berkshire Hills Bancorp by 126.0% during the second quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock worth $4,186,000 after acquiring an additional 102,384 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Down 0.1 %

Shares of BHLB opened at $30.01 on Monday. The company’s 50-day simple moving average is $27.15 and its 200-day simple moving average is $25.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.02. Berkshire Hills Bancorp, Inc. has a 1 year low of $20.02 and a 1 year high of $31.58. The stock has a market capitalization of $1.29 billion, a PE ratio of 31.59 and a beta of 0.86.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 2.40%. Berkshire Hills Bancorp’s payout ratio is 75.79%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BHLB shares. Janney Montgomery Scott cut Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Monday, July 22nd. StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Hovde Group upped their price objective on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.80.

Berkshire Hills Bancorp 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.