Charles Schwab Investment Management Inc. Raises Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Charles Schwab Investment Management Inc. lifted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 423,307 shares of the savings and loans company’s stock after buying an additional 15,383 shares during the period. Charles Schwab Investment Management Inc. owned about 0.98% of Berkshire Hills Bancorp worth $12,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BHLB. Barclays PLC lifted its position in Berkshire Hills Bancorp by 105.0% in the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock valued at $2,595,000 after acquiring an additional 49,356 shares in the last quarter. State Street Corp raised its stake in shares of Berkshire Hills Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,119,475 shares of the savings and loans company’s stock worth $57,455,000 after purchasing an additional 18,307 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Berkshire Hills Bancorp by 61.2% during the third quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock valued at $5,135,000 after purchasing an additional 72,402 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Berkshire Hills Bancorp by 13.7% during the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after buying an additional 114,433 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after buying an additional 821 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Activity at Berkshire Hills Bancorp

In related news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Berkshire Hills Bancorp Price Performance

Shares of NYSE:BHLB opened at $26.13 on Friday. The firm’s 50 day moving average price is $28.14 and its 200-day moving average price is $28.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.21 billion, a PE ratio of 18.14 and a beta of 0.85. Berkshire Hills Bancorp, Inc. has a twelve month low of $20.50 and a twelve month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Equities research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.72 dividend on an annualized basis and a yield of 2.76%. Berkshire Hills Bancorp’s dividend payout ratio is presently 50.00%.

Wall Street Analyst Weigh In

BHLB has been the subject of a number of recent analyst reports. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Keefe, Bruyette & Woods increased their price objective on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research report on Tuesday, December 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has an average rating of “Moderate Buy” and an average target price of $31.13.

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.