Berkshire Hills Bancorp (NYSE:BHLB) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Berkshire Hills Bancorp (NYSE:BHLB) issued its earnings results on Thursday. The savings and loans company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03, Briefing.com reports. The company had revenue of $174.24 million for the quarter, compared to the consensus estimate of $108.46 million. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. During the same period in the previous year, the firm earned $0.55 earnings per share.

Berkshire Hills Bancorp Stock Performance

Shares of Berkshire Hills Bancorp stock opened at $27.34 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 54.68 and a beta of 0.88. The firm’s 50-day moving average is $22.64 and its 200 day moving average is $22.58. Berkshire Hills Bancorp has a 1 year low of $18.31 and a 1 year high of $27.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.01.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 20th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, June 20th. Berkshire Hills Bancorp’s payout ratio is 144.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. Hovde Group boosted their price objective on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.50.

About Berkshire Hills Bancorp

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.