Berkshire Hills Bancorp, Inc. $BHLB Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its holdings in Berkshire Hills Bancorp by 4.6%, owning approximately $9.04 million in stock as of its latest SEC filing.
• Vanguard Group and several other institutional investors have increased their stakes in Berkshire Hills Bancorp, which is now 83.07% owned by institutional investors and hedge funds.
• Berkshire Hills Bancorp reported an earnings per share (EPS) of $0.69 for the last quarter, surpassing analysts' expectations of $0.58, with quarterly revenue up 4.6% compared to the previous year.

Hotchkis & Wiley Capital Management LLC trimmed its holdings in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 346,300 shares of the savings and loans company's stock after selling 16,520 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.75% of Berkshire Hills Bancorp worth $9,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in Berkshire Hills Bancorp by 130.9% during the first quarter. Meeder Asset Management Inc. now owns 1,374 shares of the savings and loans company's stock worth $36,000 after purchasing an additional 779 shares in the last quarter. Quarry LP grew its holdings in Berkshire Hills Bancorp by 142.7% in the fourth quarter. Quarry LP now owns 1,291 shares of the savings and loans company's stock valued at $37,000 after purchasing an additional 759 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Berkshire Hills Bancorp by 2,259.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company's stock valued at $64,000 after purchasing an additional 2,169 shares during the last quarter. CWM LLC grew its holdings in Berkshire Hills Bancorp by 508.7% in the first quarter. CWM LLC now owns 4,413 shares of the savings and loans company's stock valued at $115,000 after purchasing an additional 3,688 shares during the last quarter. Finally, Man Group plc acquired a new stake in Berkshire Hills Bancorp in the fourth quarter valued at $216,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Berkshire Hills Bancorp Price Performance

Berkshire Hills Bancorp stock traded down $0.20 during trading hours on Friday, hitting $26.11. The stock had a trading volume of 2,575,853 shares, compared to its average volume of 435,306. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.20 and a beta of 0.66. Berkshire Hills Bancorp, Inc. has a 1-year low of $22.27 and a 1-year high of $32.36. The stock's fifty day moving average is $25.68 and its two-hundred day moving average is $25.66.

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

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders 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 annualized dividend and a yield of 2.8%. Berkshire Hills Bancorp's dividend payout ratio (DPR) is presently 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.