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

by · The Markets Daily

Berkshire Hills Bancorp (NYSE:BHLB – Get Free Report) announced its earnings results on Thursday. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03, Briefing.com reports. The business had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $119.61 million. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS.

Berkshire Hills Bancorp Price Performance

Shares of BHLB stock traded down $0.20 on Friday, reaching $27.10. 124,596 shares of the company were exchanged, compared to its average volume of 254,968. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 54.32 and a beta of 0.86. The business has a 50-day moving average price of $26.89 and a 200 day moving average price of $24.47. Berkshire Hills Bancorp has a 1 year low of $18.87 and a 1 year high of $28.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01.

Berkshire Hills Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, September 30th. Berkshire Hills Bancorp’s payout ratio is presently 144.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Hovde Group increased their price objective on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. StockNews.com raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Janney Montgomery Scott lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.80.

Read Our Latest Stock Report on Berkshire Hills Bancorp

About Berkshire Hills Bancorp

(Get Free Report)

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.

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