Charles Schwab Investment Management Inc. Lowers Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Charles Schwab Investment Management Inc. trimmed its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 407,924 shares of the savings and loans company’s stock after selling 4,416 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.95% of Berkshire Hills Bancorp worth $10,985,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. nVerses Capital LLC raised its holdings in Berkshire Hills Bancorp by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock worth $54,000 after acquiring an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Berkshire Hills Bancorp in the second quarter worth $104,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Berkshire Hills Bancorp by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 2,169 shares in the last quarter. Joel Isaacson & Co. LLC purchased a new stake in shares of Berkshire Hills Bancorp during the third quarter valued at $211,000. Finally, Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp in the 3rd quarter worth about $215,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Berkshire Hills Bancorp from $29.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Six equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.20.

Berkshire Hills Bancorp Trading Down 1.2 %

Berkshire Hills Bancorp stock opened at $30.37 on Tuesday. Berkshire Hills Bancorp, Inc. has a 52-week low of $20.50 and a 52-week high of $32.36. The company has a market cap of $1.31 billion, a P/E ratio of 31.97 and a beta of 0.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $28.81 and a two-hundred day simple moving average of $26.23.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $125.70 million during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. Analysts predict that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 2.37%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 75.79%.

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.