Berkshire Hills Bancorp (NYSE:BHLB) Issues Earnings Results

Berkshire Hills Bancorp (NYSE:BHLB) posted its quarterly earnings data on Thursday. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06, Zacks reports. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%.

Berkshire Hills Bancorp Trading Up 0.7 %

NYSE BHLB opened at $29.34 on Friday. Berkshire Hills Bancorp has a one year low of $20.50 and a one year high of $32.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 30.88 and a beta of 0.89. The company’s 50-day simple moving average is $29.06 and its two-hundred day simple moving average is $27.94.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BHLB. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Keefe, Bruyette & Woods raised their price objective on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the stock a “market perform” rating in a research note on Tuesday, December 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research note on Friday. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

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.