Systematic Financial Management LP Sells 23,745 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Systematic Financial Management LP trimmed its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 838,194 shares of the savings and loans company’s stock after selling 23,745 shares during the period. Systematic Financial Management LP owned approximately 1.94% of Berkshire Hills Bancorp worth $19,111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in Berkshire Hills Bancorp by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,890 shares of the savings and loans company’s stock valued at $8,986,000 after purchasing an additional 6,624 shares in the last quarter. Norges Bank bought a new position in shares of Berkshire Hills Bancorp during the 4th quarter valued at about $7,963,000. Trexquant Investment LP purchased a new position in shares of Berkshire Hills Bancorp during the 4th quarter valued at about $531,000. Hsbc Holdings PLC lifted its position 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 during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Berkshire Hills Bancorp by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company’s stock worth $35,422,000 after buying an additional 43,822 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on BHLB. Hovde Group lifted their price target on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Janney Montgomery Scott cut shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.80.

Berkshire Hills Bancorp Trading Up 0.3 %

NYSE BHLB opened at $26.73 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of 53.46 and a beta of 0.86. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $18.31 and a fifty-two week high of $28.51. The stock has a 50 day simple moving average of $26.68 and a two-hundred day simple moving average of $23.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Thursday, July 18th. The savings and loans company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The firm had revenue of $174.24 million during the quarter, compared to analysts’ expectations of $108.46 million. During the same period last year, the company posted $0.55 EPS. On average, analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.12 earnings per share for the current year.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.69%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 144.00%.

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.