American Century Companies Inc. Lowers Holdings in Berkshire Hills Bancorp, Inc. $BHLB

Key Points

• American Century Companies Inc. reduced its holdings in Berkshire Hills Bancorp, Inc. by 12.4% during the 1st quarter, owning 548,020 shares valued at $14.3 million after selling off 77,804 shares.
• Several institutional investors, including SummerHaven Investment Management and Oregon Public Employees Retirement Fund, increased their stakes in Berkshire Hills Bancorp during the same period.
• Berkshire Hills Bancorp reported $0.69 EPS for the last quarter, exceeding estimates and reflecting a 4.6% year-over-year revenue growth.

American Century Companies Inc. reduced its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,020 shares of the savings and loans company's stock after selling 77,804 shares during the period. American Century Companies Inc. owned approximately 1.18% of Berkshire Hills Bancorp worth $14,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its stake in shares of Berkshire Hills Bancorp by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 34,290 shares of the savings and loans company's stock valued at $895,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Berkshire Hills Bancorp by 5.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,423 shares of the savings and loans company's stock valued at $272,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Berkshire Hills Bancorp by 4.2% in the 1st quarter. Amalgamated Bank now owns 12,917 shares of the savings and loans company's stock valued at $337,000 after purchasing an additional 524 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Berkshire Hills Bancorp by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,784 shares of the savings and loans company's stock valued at $360,000 after purchasing an additional 543 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Berkshire Hills Bancorp by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 16,543 shares of the savings and loans company's stock valued at $432,000 after purchasing an additional 564 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $32.75.

Berkshire Hills Bancorp Stock Performance

Berkshire Hills Bancorp stock opened at $26.3770 on Tuesday. The stock's 50 day moving average price is $25.47 and its 200 day moving average price is $25.73. The firm has a market capitalization of $1.22 billion, a PE ratio of 10.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.99 and a current ratio of 0.99. Berkshire Hills Bancorp, Inc. has a one year low of $22.27 and a one year high of $32.36.

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, topping the consensus estimate of $0.58 by $0.11. The firm 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 for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. As a group, sell-side analysts expect that Berkshire Hills Bancorp, Inc. will post 2.52 EPS for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.7%. Berkshire Hills Bancorp's payout ratio is 28.13%.

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.

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