Victory Capital Management Inc. Takes Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,981 shares of the savings and loans company’s stock, valued at approximately $215,000.

A number of other large investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Berkshire Hills Bancorp by 4.9% in 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 during the period. nVerses Capital LLC grew its stake in shares of Berkshire Hills Bancorp by 233.3% in the 3rd 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. Price T Rowe Associates Inc. MD grew its stake in shares of Berkshire Hills Bancorp by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,988 shares of the savings and loans company’s stock valued at $734,000 after buying an additional 1,753 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Berkshire Hills Bancorp by 58.5% in the 2nd 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. Finally, Sei Investments Co. grew its stake in shares of Berkshire Hills Bancorp by 2.3% in the 2nd quarter. Sei Investments Co. now owns 99,677 shares of the savings and loans company’s stock valued at $2,273,000 after buying an additional 2,257 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Berkshire Hills Bancorp Trading Down 1.4 %

Shares of NYSE BHLB opened at $30.48 on Friday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 32.08 and a beta of 0.86. The business has a 50 day simple moving average of $28.36 and a 200 day simple moving average of $25.88. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.18 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.36%. Berkshire Hills Bancorp’s dividend payout ratio is 75.79%.

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.