Zacks: Analysts Anticipate Berkshire Hills Bancorp, Inc. (BHLB) Will Announce Earnings of $0.58 Per Share

Wall Street analysts forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will announce earnings of $0.58 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Berkshire Hills Bancorp’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.55. Berkshire Hills Bancorp reported earnings of $0.65 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10.8%. The firm is scheduled to report its next quarterly earnings results on Monday, April 22nd.

On average, analysts expect that Berkshire Hills Bancorp will report full year earnings of $2.70 per share for the current year, with EPS estimates ranging from $2.69 to $2.70. For the next financial year, analysts expect that the business will post earnings of $2.91 per share, with EPS estimates ranging from $2.90 to $2.92. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Wednesday, January 23rd. The savings and loans company reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.03). The company had revenue of $114.47 million for the quarter, compared to analyst estimates of $118.05 million. Berkshire Hills Bancorp had a return on equity of 8.44% and a net margin of 18.20%.

Several research analysts have issued reports on the company. FIG Partners upgraded Berkshire Hills Bancorp from a “market-perform” rating to an “outperform” rating in a research note on Thursday, October 18th. ValuEngine cut Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Zacks Investment Research cut Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Monday, December 24th. TheStreet cut Berkshire Hills Bancorp from a “b-” rating to a “c+” rating in a report on Friday, January 4th. Finally, Compass Point cut Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and set a $38.00 target price on the stock. in a report on Tuesday, January 8th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Berkshire Hills Bancorp presently has a consensus rating of “Hold” and an average price target of $37.00.

NYSE:BHLB traded down $0.14 during mid-day trading on Wednesday, reaching $28.91. The stock had a trading volume of 147,612 shares, compared to its average volume of 243,667. The company has a market capitalization of $1.29 billion, a P/E ratio of 10.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89. Berkshire Hills Bancorp has a fifty-two week low of $25.77 and a fifty-two week high of $44.25.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be given a dividend of $0.23 per share. This is a positive change from Berkshire Hills Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 13th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. Berkshire Hills Bancorp’s payout ratio is 32.47%.

In other Berkshire Hills Bancorp news, EVP Wm Gordon Prescott bought 1,235 shares of Berkshire Hills Bancorp stock in a transaction dated Monday, December 17th. The stock was bought at an average cost of $28.43 per share, for a total transaction of $35,111.05. Following the purchase, the executive vice president now owns 4,785 shares of the company’s stock, valued at approximately $136,037.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard M. Marotta bought 1,860 shares of Berkshire Hills Bancorp stock in a transaction dated Thursday, December 20th. The shares were acquired at an average price of $26.97 per share, with a total value of $50,164.20. Following the completion of the purchase, the insider now directly owns 37,865 shares in the company, valued at approximately $1,021,219.05. The disclosure for this purchase can be found here. Insiders have acquired a total of 8,475 shares of company stock worth $238,183 in the last ninety days. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BHLB. California Public Employees Retirement System boosted its stake in shares of Berkshire Hills Bancorp by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 124,390 shares of the savings and loans company’s stock worth $5,050,000 after acquiring an additional 6,872 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Berkshire Hills Bancorp by 62.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 628,616 shares of the savings and loans company’s stock worth $25,522,000 after acquiring an additional 240,647 shares during the period. Northern Trust Corp boosted its stake in shares of Berkshire Hills Bancorp by 0.6% during the 2nd quarter. Northern Trust Corp now owns 743,788 shares of the savings and loans company’s stock worth $30,198,000 after acquiring an additional 4,698 shares during the period. United Services Automobile Association boosted its stake in shares of Berkshire Hills Bancorp by 60.8% during the 2nd quarter. United Services Automobile Association now owns 120,965 shares of the savings and loans company’s stock worth $4,911,000 after acquiring an additional 45,719 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Berkshire Hills Bancorp by 11.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,451 shares of the savings and loans company’s stock worth $547,000 after acquiring an additional 1,421 shares during the period. Institutional investors own 76.13% of the company’s stock.

About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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