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

Berkshire Hills Bancorp (NYSE:BHLB) announced its quarterly earnings data on Thursday. The savings and loans company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03, Briefing.com reports. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The firm had revenue of $174.24 million during the quarter, compared to analyst estimates of $108.46 million. During the same period last year, the firm posted $0.55 EPS.

Berkshire Hills Bancorp Stock Performance

NYSE BHLB opened at $27.34 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of 54.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.01. The stock has a 50-day moving average of $22.64 and a two-hundred day moving average of $22.58. Berkshire Hills Bancorp has a 1-year low of $18.31 and a 1-year high of $27.97.

Berkshire Hills Bancorp Dividend Announcement

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

Analysts Set New Price Targets

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