Thrivent Financial for Lutherans Sells 28,264 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Thrivent Financial for Lutherans cut its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 24.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,938 shares of the savings and loans company’s stock after selling 28,264 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.20% of Berkshire Hills Bancorp worth $2,315,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC grew its stake in shares of 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 worth $54,000 after acquiring an additional 1,400 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp during the second quarter worth about $104,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $134,000 after acquiring an additional 2,169 shares during the last quarter. Joel Isaacson & Co. LLC purchased a new stake in shares of Berkshire Hills Bancorp during the third quarter worth about $211,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp during the third quarter worth about $215,000. 83.07% of the stock is currently owned by institutional investors.

Berkshire Hills Bancorp Price Performance

Shares of NYSE BHLB opened at $30.93 on Thursday. The business’s 50 day moving average price is $28.16 and its 200 day moving average price is $25.76. The firm has a market cap of $1.33 billion, a P/E ratio of 32.61 and a beta of 0.86. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $125.70 million for 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%. Berkshire Hills Bancorp’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, sell-side analysts expect that Berkshire Hills Bancorp, Inc. will post 2.16 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.33%. Berkshire Hills Bancorp’s dividend payout ratio is currently 75.79%.

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.