Hotchkis & Wiley Capital Management LLC Has $6.93 Million Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Hotchkis & Wiley Capital Management LLC reduced its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 257,190 shares of the savings and loans company's stock after selling 24,400 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.60% of Berkshire Hills Bancorp worth $6,926,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BHLB. FMR LLC increased its stake in shares of Berkshire Hills Bancorp by 3.3% in the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company's stock worth $415,000 after purchasing an additional 496 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Berkshire Hills Bancorp by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company's stock valued at $520,000 after buying an additional 1,071 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Berkshire Hills Bancorp in the 3rd quarter worth approximately $34,000. nVerses Capital LLC lifted its holdings 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 buying an additional 1,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Berkshire Hills Bancorp by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,423 shares of the savings and loans company's stock valued at $361,000 after acquiring an additional 1,565 shares during the period. Institutional investors own 83.07% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a "market perform" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $28.20.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE:BHLB traded up $0.35 during trading on Friday, hitting $30.75. 180,254 shares of the stock were exchanged, compared to its average volume of 255,688. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The company's fifty day simple moving average is $28.66 and its 200-day simple moving average is $26.08.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.03. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The firm had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. The business's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. Sell-side analysts expect that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, November 14th. Berkshire Hills Bancorp's dividend payout ratio (DPR) is presently 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.