Wall Street brokers expect Berkshire Hills Bancorp, Inc. (NYSE: BHLB – Get a rating) will report earnings per share (EPS) of $0.41 for the current fiscal quarter, Zacks Investment Research reports. Two analysts provided earnings estimates for Berkshire Hills Bancorp. The lowest EPS estimate is $0.39 and the highest is $0.42. Berkshire Hills Bancorp posted earnings of $0.26 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 57.7%. The company is expected to release its next results before the market opens on Monday, January 1.
According to Zacks, analysts expect Berkshire Hills Bancorp to report annual earnings of $1.82 per share for the current fiscal year, with EPS estimates ranging from $1.78 to $1.86. For the next fiscal year, analysts expect the company to report earnings of $1.99 per share, with EPS estimates ranging from $1.98 to $1.99. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that track Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE: BHLB – Get a rating) last announced its quarterly results on Thursday, January 20. The savings and loan company reported EPS of $0.42 for the quarter, meeting Thomson Reuters consensus estimate of $0.42. The company posted revenue of $90.72 million for the quarter, versus analyst estimates of $91.00 million. Berkshire Hills Bancorp had a return on equity of 7.13% and a net margin of 25.12%. In the same quarter of the previous year, the company achieved EPS of $0.28.
Several research analysts have recently published reports on the company. StockNews.com supposed coverage of Berkshire Hills Bancorp in a Thursday, March 31 research report. They set a “holding” rating for the company. Zacks Investment Research downgraded Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a Monday, March 28 research report. Five equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.80.
Separately, CEO Nitin J. Mhatre acquired 2,700 shares of the company in a transaction dated Tuesday, January 25. The shares were acquired at an average cost of $29.48 per share, for a total transaction of $79,596.00. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, director Jeffrey W. Kip acquired 10,000 shares of the company in a transaction dated Monday, Jan. 31. The shares were purchased at an average price of $29.25 per share, with a total value of $292,500.00. Disclosure of this purchase can be found here. Insiders own 0.90% of the shares of the company.
Several hedge funds have recently increased or reduced their stakes in the company. Assenagon Asset Management SA increased its stake in Berkshire Hills Bancorp shares by 1.0% in the fourth quarter. Assenagon Asset Management SA now owns 35,381 shares in the savings and loan company worth $1,006,000 after acquiring 346 additional shares last quarter. Ironwood Investment Management LLC increased its stake in Berkshire Hills Bancorp shares by 2.5% in the fourth quarter. Ironwood Investment Management LLC now owns 16,956 shares of the savings and loan company worth $482,000 after acquiring 411 additional shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Berkshire Hills Bancorp shares by 2.2% in the first quarter. Maryland State Retirement & Pension System now owns 19,682 shares of the savings and loan company worth $570,000 after acquiring 430 additional shares in the last quarter. Rhumbline Advisers increased its stake in Berkshire Hills Bancorp shares by 0.3% in the fourth quarter. Rhumbline Advisers now owns 135,561 shares of the savings and loan company worth $3,854,000 after acquiring 455 additional shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Berkshire Hills Bancorp shares by 100.5% in the third quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the savings and loan company worth $42,000 after acquiring 786 additional shares in the last quarter. Institutional investors and hedge funds hold 78.17% of the company’s shares.
Shares of Berkshire Hills Bancorp Stock traded down $0.28 during Thursday’s trading, hitting $27.76. 10,080 shares of the company were traded, against an average volume of 337,226. The company has a quick ratio of 0.83, a current ratio of 0.83 and a leverage ratio of 0.09. Berkshire Hills Bancorp has a fifty-two week low of $21.00 and a fifty-two week high of $31.78. The stock has a market capitalization of $1.35 billion, a price-earnings ratio of 11.36 and a beta of 1.04. The company has a 50-day moving average price of $29.83 and a 200-day moving average price of $28.82.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 24. Shareholders of record on Thursday, February 10 received a dividend of $0.12. The ex-dividend date was Wednesday, February 9. This represents an annualized dividend of $0.48 and a yield of 1.73%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 19.83%.
Berkshire Hills Bancorp Company Profile (Get a rating)
Berkshire Hills Bancorp, Inc operates as a banking holding company for Berkshire Bank which provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, term deposit certificates and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer and residential loans.
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