Sei Investments Co. Has $2.35 Million Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Sei Investments Co. lowered its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,767 shares of the savings and loans company’s stock after selling 4,460 shares during the quarter. Sei Investments Co. owned approximately 0.19% of Berkshire Hills Bancorp worth $2,353,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Berkshire Hills Bancorp by 105.0% during the 3rd quarter. Barclays PLC now owns 96,380 shares of the savings and loans company’s stock valued at $2,595,000 after purchasing an additional 49,356 shares in the last quarter. Amundi increased its stake in shares of Berkshire Hills Bancorp by 187.0% in the fourth quarter. Amundi now owns 20,470 shares of the savings and loans company’s stock valued at $571,000 after buying an additional 13,337 shares in the last quarter. State Street Corp raised its holdings 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 valued at $57,455,000 after buying an additional 18,307 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Berkshire Hills Bancorp by 61.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock worth $5,135,000 after buying an additional 72,402 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Berkshire Hills Bancorp by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,307 shares of the savings and loans company’s stock worth $12,035,000 after acquiring an additional 15,383 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Stock Down 3.0 %

Shares of Berkshire Hills Bancorp stock opened at $23.53 on Friday. The business has a fifty day simple moving average of $27.67 and a 200 day simple moving average of $28.23. The stock has a market cap of $1.09 billion, a PE ratio of 16.34 and a beta of 0.58. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp, Inc. has a 12 month low of $20.50 and a 12 month high of $32.36.

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

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.06%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is presently 50.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BHLB. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a report on Tuesday, December 24th. Piper Sandler raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

Insiders Place Their Bets

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.02% of the company’s stock.

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.