Public Employees Retirement Association of Colorado decreased its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 28.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,909 shares of the savings and loans company’s stock after selling 3,622 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Berkshire Hills Bancorp were worth $338,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BHLB. Schwab Charles Investment Management Inc. grew its holdings in shares of Berkshire Hills Bancorp by 8.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 181,087 shares of the savings and loans company’s stock worth $6,628,000 after buying an additional 13,632 shares during the last quarter. Dupont Capital Management Corp purchased a new position in shares of Berkshire Hills Bancorp during the fourth quarter worth about $931,000. LSV Asset Management grew its holdings in shares of Berkshire Hills Bancorp by 1.4% during the fourth quarter. LSV Asset Management now owns 1,322,538 shares of the savings and loans company’s stock worth $48,404,000 after buying an additional 18,500 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Berkshire Hills Bancorp during the fourth quarter worth about $480,000. Finally, Sei Investments Co. grew its holdings in shares of Berkshire Hills Bancorp by 70.6% during the fourth quarter. Sei Investments Co. now owns 143,259 shares of the savings and loans company’s stock worth $6,806,000 after buying an additional 59,281 shares during the last quarter. 70.61% of the stock is currently owned by institutional investors.
BHLB has been the topic of a number of research reports. Zacks Investment Research raised Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, April 6th. ValuEngine lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Berkshire Hills Bancorp has an average rating of “Buy” and an average price target of $41.70.
Shares of BHLB opened at $39.40 on Tuesday. Berkshire Hills Bancorp, Inc. has a twelve month low of $32.85 and a twelve month high of $40.10. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 16.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.89 and a current ratio of 0.90.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Monday, April 23rd. The savings and loans company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.39% and a net margin of 12.82%. The company had revenue of $114.99 million for the quarter, compared to analyst estimates of $118.90 million. analysts expect that Berkshire Hills Bancorp, Inc. will post 2.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Wednesday, May 9th. Berkshire Hills Bancorp’s dividend payout ratio is presently 38.43%.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc operates as a bank holding company, which engages in the provision of community banking services. The firm’s loan portfolio comprises of the following: commercial real estate; commercial and industrial; residential mortgage; and consumer. It also offers savings and checking accounts, deposits, lending, mortgages loans, insurance, and wealth management products.
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