Victory Capital Management Inc. Makes New $705,000 Investment in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Victory Capital Management Inc. purchased a new stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,138 shares of the savings and loans company’s stock, valued at approximately $705,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Berkshire Hills Bancorp by 3.2% in the second quarter. Vanguard Group Inc. now owns 5,568,738 shares of the savings and loans company’s stock valued at $152,639,000 after buying an additional 171,770 shares in the last quarter. State Street Corp increased its holdings in shares of Berkshire Hills Bancorp by 6.6% in the second quarter. State Street Corp now owns 2,326,674 shares of the savings and loans company’s stock valued at $64,052,000 after buying an additional 144,363 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Berkshire Hills Bancorp by 9.4% in the second quarter. Geode Capital Management LLC now owns 891,395 shares of the savings and loans company’s stock valued at $24,433,000 after buying an additional 76,620 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Berkshire Hills Bancorp by 20.2% in the second quarter. Systematic Financial Management LP now owns 827,517 shares of the savings and loans company’s stock valued at $22,682,000 after buying an additional 139,038 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Berkshire Hills Bancorp by 39.3% in the second quarter. The Manufacturers Life Insurance Company now owns 780,402 shares of the savings and loans company’s stock valued at $21,391,000 after buying an additional 220,230 shares in the last quarter. 78.39% of the stock is currently owned by institutional investors.

In other news, EVP Jason T. White sold 5,280 shares of the company’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $28.04, for a total value of $148,051.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Shares of NYSE:BHLB opened at $31.29 on Friday. The company’s fifty day moving average is $28.42 and its two-hundred day moving average is $27.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. Berkshire Hills Bancorp, Inc. has a 12-month low of $16.35 and a 12-month high of $31.30. The company has a market cap of $1.52 billion, a P/E ratio of 13.60 and a beta of 1.14.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Wednesday, October 20th. The savings and loans company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.92. Berkshire Hills Bancorp had a net margin of 23.12% and a return on equity of 6.60%. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $92.94 million. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 1.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 24th. Stockholders of record on Thursday, November 11th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, November 9th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 20.87%.

Several research analysts have issued reports on BHLB shares. Zacks Investment Research cut Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Monday, December 27th. TheStreet raised shares of Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, November 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Berkshire Hills Bancorp from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, October 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.60.

Berkshire Hills Bancorp Profile

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies.

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Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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