Hartford Financial Management Inc. Lowers Stake in Berkshire Hills Bancorp, Inc. (BHLB)

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Hartford Financial Management Inc. reduced its position in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 12.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,785 shares of the savings and loans company’s stock after selling 987 shares during the quarter. Hartford Financial Management Inc.’s holdings in Berkshire Hills Bancorp were worth $183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Berkshire Hills Bancorp by 8.8% during the 3rd quarter. BlackRock Inc. now owns 5,942,938 shares of the savings and loans company’s stock valued at $241,880,000 after buying an additional 478,461 shares during the period. Dimensional Fund Advisors LP raised its holdings in Berkshire Hills Bancorp by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,821,362 shares of the savings and loans company’s stock valued at $155,529,000 after buying an additional 153,198 shares during the period. Vanguard Group Inc. raised its holdings in Berkshire Hills Bancorp by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,794,369 shares of the savings and loans company’s stock valued at $154,431,000 after buying an additional 97,393 shares during the period. Vanguard Group Inc raised its holdings in Berkshire Hills Bancorp by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 3,794,369 shares of the savings and loans company’s stock valued at $154,431,000 after buying an additional 97,393 shares during the period. Finally, Northern Trust Corp raised its holdings in Berkshire Hills Bancorp by 0.6% during the 2nd quarter. Northern Trust Corp now owns 743,788 shares of the savings and loans company’s stock valued at $30,198,000 after buying an additional 4,698 shares during the period. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Several analysts recently weighed in on the company. Zacks Investment Research lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 1st. Compass Point set a $24.00 target price on Berkshire Hills Bancorp and gave the stock a “sell” rating in a research note on Friday, January 25th. TheStreet lowered Berkshire Hills Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, January 4th. FIG Partners lowered Berkshire Hills Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, October 31st. Finally, ValuEngine lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Berkshire Hills Bancorp has a consensus rating of “Hold” and a consensus price target of $37.00.

BHLB stock traded up $0.01 during midday trading on Friday, reaching $28.51. The company’s stock had a trading volume of 204,337 shares, compared to its average volume of 233,519. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.06. Berkshire Hills Bancorp, Inc. has a 1 year low of $25.77 and a 1 year high of $44.25. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 10.52 and a beta of 1.03.

Berkshire Hills Bancorp (NYSE:BHLB) last released its earnings results on Wednesday, January 23rd. The savings and loans company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.03). Berkshire Hills Bancorp had a return on equity of 8.44% and a net margin of 18.20%. The business had revenue of $114.47 million during the quarter, compared to analysts’ expectations of $118.05 million. Research analysts expect that Berkshire Hills Bancorp, Inc. will post 2.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be paid a $0.23 dividend. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $0.92 dividend on an annualized basis and a yield of 3.23%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 32.47%.

In other news, EVP Wm Gordon Prescott purchased 1,235 shares of the business’s stock in a transaction dated Monday, December 17th. The shares were purchased at an average price of $28.43 per share, for a total transaction of $35,111.05. Following the completion of the purchase, the executive vice president now owns 4,785 shares in the company, valued at approximately $136,037.55. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard M. Marotta purchased 1,860 shares of the business’s stock in a transaction dated Thursday, December 20th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $50,164.20. Following the purchase, the insider now owns 37,865 shares of the company’s stock, valued at approximately $1,021,219.05. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,475 shares of company stock worth $238,183. Insiders own 1.60% of the company’s stock.

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Berkshire Hills Bancorp Profile

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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Institutional Ownership by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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