Fmr LLC Buys 496 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Fmr LLC lifted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,411 shares of the savings and loans company’s stock after purchasing an additional 496 shares during the period. Fmr LLC’s holdings in Berkshire Hills Bancorp were worth $415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in Berkshire Hills Bancorp by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock valued at $520,000 after purchasing an additional 1,071 shares in the last quarter. nVerses Capital LLC increased its stake in shares of Berkshire Hills Bancorp by 233.3% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after buying an additional 1,400 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Berkshire Hills Bancorp by 58.5% in 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 acquiring an additional 2,169 shares in the last quarter. Sei Investments Co. lifted its stake in Berkshire Hills Bancorp by 2.3% in the second quarter. Sei Investments Co. now owns 99,677 shares of the savings and loans company’s stock worth $2,273,000 after acquiring an additional 2,257 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Berkshire Hills Bancorp by 38.4% during the 3rd quarter. Private Advisor Group LLC now owns 13,031 shares of the savings and loans company’s stock worth $351,000 after acquiring an additional 3,615 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Down 1.1 %

NYSE:BHLB opened at $27.80 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $1.19 billion, a P/E ratio of 29.26 and a beta of 0.88. The company’s 50-day simple moving average is $29.33 and its 200-day simple moving average is $26.58. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $32.36.

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 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 the consensus estimate of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. Berkshire Hills Bancorp’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. On average, equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The firm 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. This represents a $0.72 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, November 14th. Berkshire Hills Bancorp’s dividend payout ratio is currently 75.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their price target 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. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Royal Bank of Canada lowered their target price on Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Tuesday. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.20.

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.