Orion Portfolio Solutions LLC Lowers Stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Orion Portfolio Solutions LLC decreased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,859 shares of the savings and loans company’s stock after selling 520 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Berkshire Hills Bancorp were worth $319,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BHLB. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Berkshire Hills Bancorp by 47.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,858 shares of the savings and loans company’s stock valued at $270,000 after buying an additional 3,789 shares during the period. Acadian Asset Management LLC purchased a new stake in Berkshire Hills Bancorp during the second quarter worth about $676,000. Quest Partners LLC lifted its position in shares of Berkshire Hills Bancorp by 57.3% during the second quarter. Quest Partners LLC now owns 38,821 shares of the savings and loans company’s stock worth $885,000 after purchasing an additional 14,149 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Berkshire Hills Bancorp by 33.5% in the second quarter. Texas Permanent School Fund Corp now owns 49,903 shares of the savings and loans company’s stock valued at $1,138,000 after purchasing an additional 12,528 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Berkshire Hills Bancorp by 6.5% in the second quarter. American Century Companies Inc. now owns 624,192 shares of the savings and loans company’s stock valued at $14,232,000 after purchasing an additional 38,327 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Price Performance

Shares of BHLB opened at $28.12 on Thursday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.60 and a beta of 0.88. The firm’s fifty day simple moving average is $29.29 and its 200-day simple moving average is $26.57. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS. Equities analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors 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 dividend on an annualized basis and a yield of 2.56%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 75.79%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHLB. Royal Bank of Canada reduced their target price on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.20.

Berkshire Hills Bancorp Company 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.