Wall Street analysts predict that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will post earnings of $0.66 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Berkshire Hills Bancorp’s earnings. The highest EPS estimate is $0.66 and the lowest is $0.65. Berkshire Hills Bancorp reported earnings of $0.58 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The firm is scheduled to report its next quarterly earnings results on Thursday, January 24th.
On average, analysts expect that Berkshire Hills Bancorp will report full-year earnings of $2.74 per share for the current fiscal year, with EPS estimates ranging from $2.73 to $2.75. For the next financial year, analysts forecast that the company will post earnings of $2.90 per share, with EPS estimates ranging from $2.86 to $2.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB) last issued its quarterly earnings results on Wednesday, October 17th. The savings and loans company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. Berkshire Hills Bancorp had a return on equity of 8.33% and a net margin of 15.64%. The firm had revenue of $118.62 million for the quarter, compared to the consensus estimate of $120.17 million.
Several research analysts recently issued reports on BHLB shares. Sandler O’Neill reissued a “buy” rating and issued a $47.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, July 20th. Keefe, Bruyette & Woods cut Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price objective on the stock. in a research note on Sunday, July 22nd. FIG Partners cut Berkshire Hills Bancorp from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Cowen raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research note on Thursday, July 19th. Finally, Compass Point raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating and set a $40.00 price objective on the stock in a research note on Wednesday, July 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Berkshire Hills Bancorp presently has a consensus rating of “Hold” and a consensus price target of $41.30.
NYSE:BHLB traded up $0.39 during midday trading on Tuesday, hitting $34.55. The stock had a trading volume of 2,080 shares, compared to its average volume of 277,105. Berkshire Hills Bancorp has a one year low of $32.34 and a one year high of $44.25. The stock has a market cap of $1.53 billion, a P/E ratio of 15.12 and a beta of 0.97. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.03.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.88 annualized dividend and a yield of 2.55%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is presently 38.43%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its position in Berkshire Hills Bancorp by 11.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 29,896 shares of the savings and loans company’s stock valued at $1,217,000 after acquiring an additional 3,089 shares in the last quarter. WBI Investments Inc. bought a new stake in Berkshire Hills Bancorp during the 3rd quarter valued at $461,000. Arizona State Retirement System boosted its position in Berkshire Hills Bancorp by 9.5% during the 3rd quarter. Arizona State Retirement System now owns 58,645 shares of the savings and loans company’s stock valued at $2,387,000 after acquiring an additional 5,095 shares in the last quarter. First Trust Advisors LP boosted its position in Berkshire Hills Bancorp by 14.0% during the 3rd quarter. First Trust Advisors LP now owns 14,645 shares of the savings and loans company’s stock valued at $596,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Texas Permanent School Fund boosted its position in Berkshire Hills Bancorp by 7.1% during the 3rd quarter. Texas Permanent School Fund now owns 25,437 shares of the savings and loans company’s stock valued at $1,035,000 after acquiring an additional 1,690 shares in the last quarter. 76.13% of the stock is currently owned by institutional investors and hedge funds.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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