Brokerages forecast Berkshire Hills Bancorp, Inc. (NYSE: BHLB) to post earnings per share of $ 0.42 for the current quarter, according to Zack. Three analysts have released earnings estimates for Berkshire Hills Bancorp, with estimates ranging from $ 0.41 to $ 0.44. Berkshire Hills Bancorp reported earnings per share of $ 0.38 in the same quarter last year, suggesting a positive year-over-year growth rate of 10.5%. The company is expected to release its next results on Monday, January 24.
According to Zacks, analysts expect Berkshire Hills Bancorp to report annual earnings of $ 2.41 per share for the current fiscal year, with EPS estimates ranging from $ 2.40 to $ 2.43. For next year, analysts expect the company to report earnings of $ 1.56 per share, with EPS estimates ranging from $ 1.35 to $ 1.80. Zacks Investment Research’s BPA averages are an average based on a survey of sell-side analysts who follow Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE: BHLB) last reported its quarterly results on Wednesday, October 20. The savings and loan company reported earnings per share (EPS) of $ 1.31 for the quarter, beating Zacks’ consensus estimate of $ 0.39 by $ 0.92. The company posted revenue of $ 145.00 million in the quarter, compared to analysts’ expectations of $ 92.94 million. Berkshire Hills Bancorp had a net margin of 23.12% and a return on equity of 6.60%. During the same period of the previous year, the company posted earnings per share of $ 0.53.
A number of stock analysts have weighed on the title recently. Zacks investment research upgraded Berkshire Hills Bancorp shares from a “hold” rating to a “strong buy” rating and set a target price of $ 32.00 for the company in a research report released on Tuesday, October 26. TheStreet upgraded Berkshire Hills Bancorp shares from a “c +” rating to a “b-” rating in a research report released on Tuesday, November 2. Seaport Res Ptn reaffirmed a “buy” note on shares of Berkshire Hills Bancorp in a research report on Tuesday, August 31. Seaport Global Securities assumed coverage of the shares of Berkshire Hills Bancorp in a research report released on Tuesday, August 31. They set a “buy” rating and a target price of $ 30.00 for the business. Finally, the Royal Bank of Canada raised its price target for the Berkshire Hills Bancorp stock from $ 30.00 to $ 32.00 and assigned the stock a “sector performance” rating in a published research report. Friday October 22. Three equity research analysts rated the stock with a conservation rating, two assigned a buy rating, and one issued a strong buy rating for the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $ 29.60.
Actions of NYSE BHLB traded up $ 0.02 during Friday’s midday session, reaching $ 28.37. The stock had a trade volume of 105,592 shares, compared to its average volume of 333,503. The stock has a 50-day moving average of $ 27.81 and a 200-day moving average of $ 27.10 . The company has a debt ratio of 0.09, a quick ratio of 0.86, and a current ratio of 0.86. The company has a market cap of $ 1.38 billion, a price-to-earnings ratio of 12.33 and a beta of 1.14. Berkshire Hills Bancorp has a 12-month low of $ 16.35 and a 12-month high of $ 29.16.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 24. Shareholders of record on Thursday, November 11, received a dividend of $ 0.12 per share. The ex-dividend date of this dividend was Tuesday, November 9. This represents a dividend of $ 0.48 on an annualized basis and a dividend yield of 1.69%. Berkshire Hills Bancorp’s dividend payout ratio is 20.87%.
In other news, EVP Jason T. White sold 5,280 shares of the company in a transaction that took place on Tuesday, November 9. The stock was sold for an average price of $ 28.04, for a total trade of $ 148,051.20. The transaction has been disclosed in a legal file with the SEC, which can be accessed via this link. Company insiders own 0.90% of the company’s shares.
Large investors have recently shifted their positions in the stock. FORA Capital LLC purchased a new stake in Berkshire Hills Bancorp during the second quarter valued at $ 26,000. Nisa Investment Advisors LLC increased its holdings in Berkshire Hills Bancorp by 355.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,320 shares of the savings and loan company valued at $ 36,000 after purchasing an additional 1,030 shares during the period. Advisor Group Holdings Inc. increased its holdings in Berkshire Hills Bancorp by 100.5% during the third quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the savings and loan company valued at $ 42,000 after purchasing an additional 786 shares during the period. William Blair Investment Management LLC purchased a new stake in Berkshire Hills Bancorp during the second quarter valued at $ 67,000. Finally, Mutual of America Capital Management LLC increased its stake in Berkshire Hills Bancorp by 6.8% during the second quarter. Mutual of America Capital Management LLC now owns 7,279 shares of the savings and loan company valued at $ 200,000 after purchasing an additional 463 shares during the period. 81.23% of the shares are currently held by institutional investors.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc. The company provides deposit, lending, insurance and wealth management products to retail and commercial clients in its markets. It aims to expand and deepen market share and portfolio share through organic growth and acquisition strategies.
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