Intech Investment Management LLC Sells 3,840 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Intech Investment Management LLC cut its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 21.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,101 shares of the savings and loans company’s stock after selling 3,840 shares during the quarter. Intech Investment Management LLC’s holdings in Berkshire Hills Bancorp were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in 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 valued at $520,000 after acquiring an additional 1,071 shares during the period. nVerses Capital LLC raised its holdings 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 acquiring an additional 1,400 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Berkshire Hills Bancorp by 5.8% during the first 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 acquiring an additional 1,753 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Berkshire Hills Bancorp by 58.5% during 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 acquiring an additional 2,169 shares during the period. Finally, Sei Investments Co. raised its holdings in Berkshire Hills Bancorp by 2.3% during the second quarter. Sei Investments Co. now owns 99,677 shares of the savings and loans company’s stock valued at $2,273,000 after acquiring an additional 2,257 shares during the period. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Price Performance

NYSE:BHLB opened at $30.32 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $28.50 and its two-hundred day simple moving average is $26.02. The stock has a market cap of $1.30 billion, a PE ratio of 31.92 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36.

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. The firm had revenue of $125.70 million during 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. As a group, analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.37%. Berkshire Hills Bancorp’s 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.