Berkshire Hills Bancorp (NYSE:BHLB) Issues Earnings Results

Berkshire Hills Bancorp (NYSE:BHLB) announced its quarterly earnings results on Thursday. The savings and loans company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03, Briefing.com reports. Berkshire Hills Bancorp had a return on equity of 8.77% and a net margin of 3.40%. During the same quarter in the previous year, the firm earned $0.55 EPS.

Berkshire Hills Bancorp Price Performance

BHLB opened at $27.17 on Friday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 58.08 and a beta of 0.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Berkshire Hills Bancorp has a 12-month low of $18.31 and a 12-month high of $27.97. The stock has a 50-day moving average price of $22.55 and a 200-day moving average price of $22.57.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 20th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, June 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 144.00%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BHLB shares. StockNews.com cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Hovde Group increased their price objective on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.50.

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.