Assenagon Asset Management S.A. Sells 117,502 Shares of Berkshire Hills Bancorp, Inc. $BHLB

Assenagon Asset Management S.A. lowered its stake in shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 27.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 312,385 shares of the savings and loans company’s stock after selling 117,502 shares during the quarter. Assenagon Asset Management S.A. owned 0.67% of Berkshire Hills Bancorp worth $7,822,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BHLB. Meeder Asset Management Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 130.9% in the 1st quarter. Meeder Asset Management Inc. now owns 1,374 shares of the savings and loans company’s stock worth $36,000 after acquiring an additional 779 shares during the last quarter. Quarry LP grew its stake in Berkshire Hills Bancorp by 78.5% in the 1st quarter. Quarry LP now owns 2,305 shares of the savings and loans company’s stock worth $60,000 after acquiring an additional 1,014 shares in the last quarter. State of Wyoming purchased a new position in Berkshire Hills Bancorp during the 1st quarter worth $102,000. CWM LLC raised its holdings in shares of 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 acquiring an additional 3,688 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at about $216,000. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Down 2.5%

Shares of NYSE BHLB opened at $25.66 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.19 billion, a PE ratio of 10.02 and a beta of 0.73. Berkshire Hills Bancorp, Inc. has a 12-month low of $22.27 and a 12-month high of $32.36. The stock’s fifty day simple moving average is $25.59 and its two-hundred day simple moving average is $25.36.

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

Berkshire Hills Bancorp Dividend Announcement

The firm 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. This represents a $0.72 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Berkshire Hills Bancorp’s dividend payout ratio is currently 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.