Texas Permanent School Fund Corp Has $1.14 Million Stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Texas Permanent School Fund Corp raised its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 33.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,903 shares of the savings and loans company’s stock after buying an additional 12,528 shares during the quarter. Texas Permanent School Fund Corp owned about 0.12% of Berkshire Hills Bancorp worth $1,138,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock valued at $201,000 after purchasing an additional 601 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Berkshire Hills Bancorp by 8.0% in the 4th quarter. Private Advisor Group LLC now owns 10,884 shares of the savings and loans company’s stock worth $270,000 after purchasing an additional 806 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Berkshire Hills Bancorp by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company’s stock worth $2,815,000 after purchasing an additional 876 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Berkshire Hills Bancorp by 5.8% during the 1st 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. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Berkshire Hills Bancorp by 4.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,819 shares of the savings and loans company’s stock valued at $1,142,000 after acquiring an additional 2,278 shares during the period. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Trading Down 1.5 %

Shares of Berkshire Hills Bancorp stock opened at $27.49 on Friday. Berkshire Hills Bancorp, Inc. has a 12-month low of $18.31 and a 12-month high of $28.51. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 54.98 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $26.66 and its 200-day moving average price is $23.67.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $174.24 million for the quarter, compared to the consensus estimate of $108.46 million. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. During the same period last year, the firm posted $0.55 earnings per share. On average, equities analysts expect that Berkshire Hills Bancorp, Inc. will post 2.1 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Wall Street Analyst Weigh In

BHLB has been the topic of a number of research reports. Janney Montgomery Scott downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Monday, July 22nd. StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Hovde Group increased their price target on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Berkshire Hills Bancorp has an average rating of “Hold” and an average price target of $26.80.

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.