Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Declares $0.18 Quarterly Dividend

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) declared a quarterly dividend on Friday, November 1st,RTT News reports. Investors of record on Thursday, November 14th will be paid a dividend of 0.18 per share by the savings and loans company on Wednesday, November 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, November 14th.

Berkshire Hills Bancorp has a dividend payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Berkshire Hills Bancorp to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 29.8%.

Berkshire Hills Bancorp Trading Up 5.0 %

Shares of BHLB opened at $31.51 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $27.22 and its 200-day simple moving average is $25.11. Berkshire Hills Bancorp has a twelve month low of $20.02 and a twelve month high of $31.76. The company has a market cap of $1.35 billion, a P/E ratio of 33.17 and a beta of 0.86.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, analysts expect that Berkshire Hills Bancorp will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

BHLB has been the subject of several recent research reports. Janney Montgomery Scott cut shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Monday, July 22nd. StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Hovde Group upped 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 note on Friday, July 19th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Berkshire Hills Bancorp currently has an average rating of “Hold” and a consensus target price 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.