Schwab Charles Investment Management Inc. raised its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 181,087 shares of the savings and loans company’s stock after buying an additional 13,632 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Berkshire Hills Bancorp were worth $6,628,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Berkshire Hills Bancorp by 4.3% in the 2nd quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock valued at $182,000 after buying an additional 212 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at about $217,000. Gamco Investors INC. ET AL bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at about $233,000. Virginia Retirement Systems ET AL bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at about $279,000. Finally, Jane Street Group LLC bought a new stake in shares of Berkshire Hills Bancorp in the 3rd quarter valued at about $294,000. Hedge funds and other institutional investors own 68.88% of the company’s stock.
BHLB has been the topic of a number of analyst reports. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, January 9th. Piper Jaffray Companies reiterated a “buy” rating and issued a $42.50 price target on shares of Berkshire Hills Bancorp in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.30.
Berkshire Hills Bancorp, Inc. (BHLB) opened at $39.25 on Monday. The stock has a market capitalization of $1,780.75, a PE ratio of 17.07 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.90. Berkshire Hills Bancorp, Inc. has a 52 week low of $32.85 and a 52 week high of $40.00.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $115.66 million for the quarter, compared to the consensus estimate of $115.50 million. Berkshire Hills Bancorp had a return on equity of 7.09% and a net margin of 11.37%. sell-side analysts predict that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, February 14th. Berkshire Hills Bancorp’s payout ratio is currently 59.46%.
In other Berkshire Hills Bancorp news, Director Patrick J. Sheehan acquired 8,938 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were bought at an average cost of $37.11 per share, with a total value of $331,689.18. Following the purchase, the director now directly owns 1,168 shares of the company’s stock, valued at $43,344.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Ryan acquired 3,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $37.87 per share, for a total transaction of $113,610.00. The disclosure for this purchase can be found here. Insiders bought a total of 14,438 shares of company stock worth $538,624 over the last three months. 1.71% of the stock is owned by company insiders.
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Berkshire Hills Bancorp Profile
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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