Charles Schwab Investment Management Inc. Has $12.64 Million Position in Berkshire Hills Bancorp, Inc. $BHLB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Berkshire Hills Bancorp by 14.4% in the first quarter, holding approximately 1.04% of the company, valued at around $12.6 million.
• Berkshire Hills Bancorp reported a $0.69 EPS for the last quarter, surpassing analysts' expectations of $0.58 and achieving a year-over-year revenue increase of 4.6%.
• The company recently declared a quarterly dividend of $0.18 per share, representing a 2.7% yield, and maintains a 28.13% dividend payout ratio.

Charles Schwab Investment Management Inc. grew its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 484,357 shares of the savings and loans company's stock after purchasing an additional 61,050 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.04% of Berkshire Hills Bancorp worth $12,637,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Berkshire Hills Bancorp by 2.0% in the first quarter. Vanguard Group Inc. now owns 5,257,565 shares of the savings and loans company's stock valued at $137,170,000 after purchasing an additional 105,497 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Berkshire Hills Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,686,281 shares of the savings and loans company's stock valued at $76,371,000 after purchasing an additional 10,579 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Berkshire Hills Bancorp in the fourth quarter valued at approximately $29,410,000. Systematic Financial Management LP raised its position in shares of Berkshire Hills Bancorp by 5.0% in the fourth quarter. Systematic Financial Management LP now owns 999,861 shares of the savings and loans company's stock valued at $28,426,000 after purchasing an additional 47,234 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Berkshire Hills Bancorp by 1.2% in the fourth quarter. Nuveen Asset Management LLC now owns 665,007 shares of the savings and loans company's stock valued at $18,906,000 after purchasing an additional 7,564 shares during the period. Institutional investors own 83.07% of the company's stock.

Berkshire Hills Bancorp Stock Performance

Shares of NYSE:BHLB traded down $0.20 during trading on Friday, reaching $26.11. The stock had a trading volume of 2,575,853 shares, compared to its average volume of 435,306. Berkshire Hills Bancorp, Inc. has a 52 week low of $22.27 and a 52 week high of $32.36. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.20 and a beta of 0.66. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $25.68 and a two-hundred day simple moving average of $25.69.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.11. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The company had revenue of $113.67 million for the quarter, compared to analyst estimates of $113.34 million. During the same quarter last year, the firm posted $0.55 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. Berkshire Hills Bancorp's payout ratio is 28.13%.

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.