Hotchkis & Wiley Capital Management LLC Reduces Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Hotchkis & Wiley Capital Management LLC lessened its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 257,190 shares of the savings and loans company’s stock after selling 24,400 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.60% of Berkshire Hills Bancorp worth $6,926,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BHLB. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $34,000. nVerses Capital LLC raised its stake in shares of Berkshire Hills Bancorp by 233.3% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the savings and loans company’s stock valued at $54,000 after acquiring an additional 1,400 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Berkshire Hills Bancorp in the second quarter valued at $104,000. Northwestern Mutual Wealth Management Co. raised its stake in Berkshire Hills Bancorp by 58.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,879 shares of the savings and loans company’s stock valued at $134,000 after buying an additional 2,169 shares in the last quarter. Finally, Joel Isaacson & Co. LLC purchased a new position in shares of Berkshire Hills Bancorp during the third quarter worth about $211,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Trading Down 0.8 %

Shares of NYSE:BHLB opened at $30.40 on Friday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 32.00 and a beta of 0.88. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day moving average price of $28.66 and a 200 day moving average price of $26.08.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $119.61 million. Berkshire Hills Bancorp had a net margin of 5.86% and a return on equity of 8.68%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Berkshire Hills Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, November 14th. Berkshire Hills Bancorp’s payout ratio is 75.79%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price target on Berkshire Hills Bancorp from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Berkshire Hills Bancorp currently has a consensus rating of “Hold” and an average target price of $28.20.

Berkshire Hills Bancorp Company 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.