Congress Wealth Management LLC DE Has $436,000 Stock Holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

Congress Wealth Management LLC DE lowered its stake in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,350 shares of the savings and loans company’s stock after selling 6,850 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Berkshire Hills Bancorp were worth $436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Berkshire Hills Bancorp by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,664,138 shares of the savings and loans company’s stock valued at $44,815,000 after purchasing an additional 293,784 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at approximately $6,672,000. Systematic Financial Management LP grew its stake in shares of Berkshire Hills Bancorp by 13.7% in the third quarter. Systematic Financial Management LP now owns 952,627 shares of the savings and loans company’s stock valued at $25,654,000 after buying an additional 114,433 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Berkshire Hills Bancorp by 28.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 340,694 shares of the savings and loans company’s stock worth $9,175,000 after buying an additional 75,476 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Berkshire Hills Bancorp by 61.2% during the third quarter. JPMorgan Chase & Co. now owns 190,673 shares of the savings and loans company’s stock worth $5,135,000 after acquiring an additional 72,402 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

BHLB has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 31st. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods raised their price objective on Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research report on Tuesday, December 24th. Finally, Seaport Res Ptn raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.13.

Berkshire Hills Bancorp Trading Down 1.9 %

Shares of NYSE:BHLB opened at $26.13 on Friday. Berkshire Hills Bancorp, Inc. has a 12-month low of $20.50 and a 12-month high of $32.36. The business has a 50 day moving average of $27.97 and a 200-day moving average of $28.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.21 billion, a PE ratio of 18.14 and a beta of 0.85.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. As a group, equities research analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.72 annualized dividend and a dividend yield of 2.76%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Insider Buying and Selling

In related news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.02% of the stock is owned by insiders.

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.