Joel Isaacson & Co. LLC Takes $211,000 Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Joel Isaacson & Co. LLC bought a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,844 shares of the savings and loans company’s stock, valued at approximately $211,000.

A number of other institutional investors have also modified their holdings of BHLB. nVerses Capital LLC boosted its stake in shares of Berkshire Hills Bancorp by 233.3% in 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp in the second quarter valued at approximately $104,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 buying an additional 2,169 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Berkshire Hills Bancorp in the first quarter valued at approximately $146,000. Finally, ProShare Advisors LLC boosted its stake in shares of Berkshire Hills Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock valued at $201,000 after buying an additional 601 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BHLB. 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 research note on Monday, July 22nd. Hovde Group lifted their price target on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, StockNews.com upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.80.

Berkshire Hills Bancorp Stock Down 1.2 %

BHLB opened at $26.98 on Friday. The business’s fifty day moving average is $26.90 and its two-hundred day moving average is $24.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 53.96 and a beta of 0.86. Berkshire Hills Bancorp, Inc. has a one year low of $18.87 and a one year high of $28.51.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. During the same period in the previous year, the business earned $0.50 earnings per share. Berkshire Hills Bancorp’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.12 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a $0.18 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.67%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

About Berkshire Hills Bancorp

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.