Texas Permanent School Fund Corp Purchases 12,528 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Texas Permanent School Fund Corp lifted its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 33.5% during the 2nd quarter, Holdings Channel reports. The firm owned 49,903 shares of the savings and loans company’s stock after acquiring an additional 12,528 shares during the period. Texas Permanent School Fund Corp’s holdings in Berkshire Hills Bancorp were worth $1,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Berkshire Hills Bancorp by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company’s stock valued at $35,422,000 after buying an additional 43,822 shares during the period. Assenagon Asset Management S.A. bought a new stake in Berkshire Hills Bancorp in the 2nd quarter worth about $6,330,000. LSV Asset Management increased its holdings in Berkshire Hills Bancorp by 116.2% in the 1st quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock worth $15,606,000 after buying an additional 365,952 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Berkshire Hills Bancorp by 272.6% in the 4th quarter. Hsbc Holdings PLC now owns 83,050 shares of the savings and loans company’s stock worth $2,074,000 after buying an additional 60,762 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Berkshire Hills Bancorp in the 4th quarter worth about $219,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Performance

Shares of Berkshire Hills Bancorp stock opened at $27.49 on Friday. The firm has a market cap of $1.19 billion, a P/E 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. Berkshire Hills Bancorp, Inc. has a 12 month low of $18.31 and a 12 month high of $28.51. The stock’s fifty day moving average price is $26.66 and its 200-day moving average price is $23.67.

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

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend 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 Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Janney Montgomery Scott downgraded Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, July 22nd. StockNews.com upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Hovde Group upped their price target on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp has a consensus rating of “Hold” and a consensus target price of $26.80.

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.