Berkshire Hills Bancorp (NYSE:BHLB) Issues Quarterly Earnings Results

Berkshire Hills Bancorp (NYSE:BHLB) issued its earnings results on Thursday. The savings and loans company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 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 business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. During the same period in the prior year, the firm earned $0.50 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year.

Berkshire Hills Bancorp Stock Down 1.2 %

BHLB traded down $0.32 on Friday, hitting $26.98. The company had a trading volume of 250,215 shares, compared to its average volume of 255,575. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 54.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $26.90 and a 200-day moving average price of $24.51. Berkshire Hills Bancorp has a 12-month low of $18.87 and a 12-month high of $28.51.

Berkshire Hills Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, September 30th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 144.00%.

Analyst Ratings Changes

BHLB has been the topic of several research analyst reports. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott lowered Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Monday, July 22nd. Finally, Hovde Group increased their target price on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.80.

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.