Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 58.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,879 shares of the savings and loans company’s stock after buying an additional 2,169 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Berkshire Hills Bancorp were worth $134,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Berkshire Hills Bancorp by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock worth $520,000 after purchasing an additional 1,071 shares during the period. Millennium Management LLC boosted its stake in shares of Berkshire Hills Bancorp by 126.0% during the 2nd quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock worth $4,186,000 after acquiring an additional 102,384 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Berkshire Hills Bancorp during the 2nd quarter worth about $412,000. Public Sector Pension Investment Board boosted its stake in shares of Berkshire Hills Bancorp by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 93,532 shares of the savings and loans company’s stock worth $2,133,000 after acquiring an additional 5,998 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Berkshire Hills Bancorp by 2.3% during 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 purchasing an additional 2,257 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on BHLB shares. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Hovde Group raised their price target on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, Janney Montgomery Scott cut Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.80.

Berkshire Hills Bancorp Stock Up 3.1 %

Shares of Berkshire Hills Bancorp stock opened at $27.16 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.28. Berkshire Hills Bancorp, Inc. has a 12 month low of $18.31 and a 12 month high of $28.51. The business has a fifty day simple moving average of $26.45 and a 200 day simple moving average of $24.13. The stock has a market cap of $1.17 billion, a PE ratio of 52.23 and a beta of 0.86.

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

Berkshire Hills Bancorp Announces Dividend

The company 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 of this dividend was Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.65%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 138.46%.

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.