Thrivent Financial for Lutherans Has $2.60 Million Stock Position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Thrivent Financial for Lutherans lessened its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 26.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,202 shares of the savings and loans company’s stock after selling 42,112 shares during the quarter. Thrivent Financial for Lutherans owned 0.26% of Berkshire Hills Bancorp worth $2,603,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Meeder Asset Management Inc. bought a new position in Berkshire Hills Bancorp in the second quarter valued at approximately $104,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Berkshire Hills Bancorp during the first quarter worth $146,000. ProShare Advisors LLC raised its position in Berkshire Hills Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after acquiring an additional 601 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Berkshire Hills Bancorp by 47.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,858 shares of the savings and loans company’s stock valued at $270,000 after acquiring an additional 3,789 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Berkshire Hills Bancorp in the 1st quarter valued at about $293,000. Institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Berkshire Hills Bancorp Stock Up 1.4 %

BHLB stock opened at $26.93 on Tuesday. The business’s fifty day moving average price is $26.67 and its two-hundred day moving average price is $23.90. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 53.86 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 company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings data 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 net margin of 3.37% and a return on equity of 8.61%. The business had revenue of $174.24 million during the quarter, compared to analysts’ expectations of $108.46 million. During the same quarter in the previous year, the company earned $0.55 EPS. On average, equities analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.12 earnings per share for the current 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 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

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.