The Manufacturers Life Insurance Company Has $520,000 Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

The Manufacturers Life Insurance Company boosted its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 4.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,799 shares of the savings and loans company’s stock after purchasing an additional 1,071 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Berkshire Hills Bancorp were worth $520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Millennium Management LLC grew its stake in Berkshire Hills Bancorp by 126.0% during the 2nd quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock valued at $4,186,000 after acquiring an additional 102,384 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter valued at approximately $412,000. Public Sector Pension Investment Board grew its stake in shares of Berkshire Hills Bancorp by 6.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 93,532 shares of the savings and loans company’s stock valued at $2,133,000 after buying an additional 5,998 shares in the last quarter. Sei Investments Co. grew its stake in shares of Berkshire Hills Bancorp by 2.3% in the 2nd quarter. Sei Investments Co. now owns 99,677 shares of the savings and loans company’s stock valued at $2,273,000 after buying an additional 2,257 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter valued at approximately $409,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Up 1.0 %

Shares of BHLB stock opened at $27.76 on Wednesday. Berkshire Hills Bancorp, Inc. has a 12 month low of $18.31 and a 12 month high of $28.51. The firm has a market cap of $1.20 billion, a PE ratio of 55.50 and a beta of 0.86. The stock has a 50 day moving average of $26.50 and a 200-day moving average of $24.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.28.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $174.24 million during the quarter, compared to analyst estimates of $108.46 million. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities analysts predict that Berkshire Hills Bancorp, Inc. will post 2.12 EPS for the current year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 144.00%.

Analysts Set New Price Targets

BHLB has been the subject of several recent research reports. Hovde Group boosted their price target on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Janney Montgomery Scott cut Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price 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 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 company’s stock. According to data from MarketBeat, Berkshire Hills Bancorp currently has an average 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.