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

Congress Wealth Management LLC DE cut its holdings in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 30.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in shares of Berkshire Hills Bancorp by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,241 shares of the savings and loans company’s stock valued at $376,000 after acquiring an additional 382 shares during the last quarter. FMR LLC raised its position in Berkshire Hills Bancorp by 3.3% in the third quarter. FMR LLC now owns 15,411 shares of the savings and loans company’s stock valued at $415,000 after purchasing an additional 496 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Berkshire Hills Bancorp by 282.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company’s stock valued at $31,000 after purchasing an additional 821 shares in the last quarter. KBC Group NV grew its holdings in shares of Berkshire Hills Bancorp by 57.8% during the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company’s stock worth $82,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Berkshire Hills Bancorp in the third quarter valued at approximately $34,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Berkshire Hills Bancorp Price Performance

BHLB stock opened at $26.13 on Friday. 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 firm has a market cap of $1.21 billion, a price-to-earnings ratio of 18.14 and a beta of 0.85. The company’s fifty day simple moving average is $27.97 and its 200 day simple moving average is $28.26. Berkshire Hills Bancorp, Inc. has a 12-month low of $20.50 and a 12-month high of $32.36.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping 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%. On average, analysts expect 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. Shareholders of record on Thursday, February 20th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s payout ratio is 50.00%.

Insider Transactions at Berkshire Hills Bancorp

In other news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

About Berkshire Hills Bancorp

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.