Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,303 shares of the savings and loans company’s stock after selling 2,713 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Berkshire Hills Bancorp were worth $3,347,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. nVerses Capital LLC increased its stake in Berkshire Hills Bancorp by 233.3% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after purchasing an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Berkshire Hills Bancorp during the 2nd quarter valued at about $104,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Berkshire Hills Bancorp by 58.5% during 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 during the last quarter. Joel Isaacson & Co. LLC bought a new position in Berkshire Hills Bancorp in the third quarter worth about $211,000. Finally, Victory Capital Management Inc. acquired a new position in Berkshire Hills Bancorp in the third quarter valued at approximately $215,000. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Stock Down 0.2 %

Shares of Berkshire Hills Bancorp stock opened at $30.20 on Friday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 31.79 and a beta of 0.88. The stock has a 50-day simple moving average of $29.15 and a 200-day simple moving average of $26.40. 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 current ratio of 0.98 and a quick ratio of 0.98.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. During the same period last year, the business earned $0.50 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts expect 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 2.38%. Berkshire Hills Bancorp’s dividend payout ratio is 75.79%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price objective on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.20.

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.