Charles Schwab Investment Management Inc. Has $12.04 Million Stock Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Charles Schwab Investment Management Inc. raised its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 0.98% of Berkshire Hills Bancorp worth $12,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Berkshire Hills Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock valued at $415,000 after acquiring an additional 496 shares during the period. Smartleaf Asset Management LLC increased its position in 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 worth $31,000 after buying an additional 821 shares during the last quarter. KBC Group NV raised its stake in Berkshire Hills Bancorp by 57.8% in the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock valued at $82,000 after buying an additional 1,051 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $34,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Berkshire Hills Bancorp by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company's stock worth $361,000 after acquiring an additional 1,565 shares during the period. 83.07% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have commented on BHLB. Keefe, Bruyette & Woods upped 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 report on Tuesday, December 24th. Piper Sandler raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. 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 note on Friday, January 31st. Finally, Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 16th. Four research 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 data from MarketBeat.com, Berkshire Hills Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Berkshire Hills Bancorp Price Performance

BHLB stock traded down $0.24 during mid-day trading on Tuesday, hitting $26.68. The stock had a trading volume of 370,085 shares, compared to its average volume of 301,252. The firm has a fifty day simple moving average of $28.13 and a 200 day simple moving average of $28.28. Berkshire Hills Bancorp, Inc. has a 52 week low of $20.50 and a 52 week high of $32.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.24 billion, a P/E ratio of 18.53 and a beta of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, February 20th. Berkshire Hills Bancorp's dividend payout ratio (DPR) is currently 50.00%.

Insider Activity

In other news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction on Tuesday, February 11th. The shares were 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 SEC, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.

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.