Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Stake Lessened by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,959 shares of the savings and loans company’s stock after selling 500 shares during the quarter. Amalgamated Bank’s holdings in Berkshire Hills Bancorp were worth $295,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Berkshire Hills Bancorp during the 4th quarter worth approximately $7,963,000. Hsbc Holdings PLC raised its stake in Berkshire Hills Bancorp by 272.6% during the fourth quarter. Hsbc Holdings PLC now owns 83,050 shares of the savings and loans company’s stock worth $2,074,000 after acquiring an additional 60,762 shares during the period. Wellington Management Group LLP lifted its holdings in Berkshire Hills Bancorp by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company’s stock worth $35,422,000 after acquiring an additional 43,822 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at approximately $485,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Berkshire Hills Bancorp by 0.7% during the first quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company’s stock valued at $2,815,000 after purchasing an additional 876 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Trading Up 1.4 %

NYSE:BHLB opened at $26.93 on Tuesday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 53.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01. Berkshire Hills Bancorp, Inc. has a 1 year low of $18.31 and a 1 year high of $28.51. The business has a fifty day moving average of $26.67 and a 200-day moving average of $23.90.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The firm had revenue of $174.24 million during the quarter, compared to analyst estimates of $108.46 million. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.12 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.72 annualized dividend and a yield of 2.67%. Berkshire Hills Bancorp’s payout ratio is 144.00%.

Analyst Ratings Changes

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