Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) is expected to report quarterly results before market open on Wednesday, April 20. Analysts expect Berkshire Hills Bancorp to post earnings of $0.41 per share for the quarter. Individuals wishing to register for the company’s earnings conference call can do so using this link.
Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last released its quarterly results on Thursday, January 20. The savings and loans company reported EPS of $0.42 for the quarter, meeting analyst consensus estimates 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%. During the same period last year, the company earned earnings per share of $0.28. On average, analysts expect Berkshire Hills Bancorp to post EPS of $2 for the current fiscal year and EPS of $2 for the next fiscal year.
BHLB shares opened at $27.70 on Wednesday. The company has a market capitalization of $1.35 billion, a price-earnings ratio of 11.43 and a beta of 1.04. The company has a debt ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.83. Berkshire Hills Bancorp has a one-year low of $21.00 and a one-year high of $31.78. The stock’s fifty-day moving average is $29.83 and its 200-day moving average is $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 per share. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, February 9. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 19.83%.
Several research analysts have weighed in on the company recently. StockNews.com began covering Berkshire Hills Bancorp in a research note on Thursday, March 31. They set a “hold” 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.80.
Separately, CEO Nitin J. Mhatre purchased 2,700 shares of the company in a transaction dated Tuesday, January 25. The stock was purchased at an average cost of $29.48 per share, with a total value of $79,596.00. The acquisition was disclosed in an SEC filing, which is available via this link. Additionally, director Jeffrey W. Kip purchased 10,000 shares of the company in a transaction dated Monday, Jan. 31. The shares were purchased at an average cost of $29.25 per share, with a total value of $292,500.00. Disclosure of this purchase can be found here. Insiders of the company own 0.90% of the shares of the company.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG increased its stake in Berkshire Hills Bancorp shares by 2.3% in the fourth quarter. Deutsche Bank AG now owns 65,116 shares in the savings and loan company valued at $1,851,000 after acquiring 1,448 additional shares last quarter. MetLife Investment Management LLC increased its stake in Berkshire Hills Bancorp shares by 11.9% in Q4. MetLife Investment Management LLC now owns 16,851 shares of the savings and loan company valued at $479,000 after acquiring 1,789 additional shares in the last quarter. Royal Bank of Canada increased its stake in Berkshire Hills Bancorp shares by 8.9% in the third quarter. Royal Bank of Canada now owns 24,017 shares of the savings and loan company valued at $648,000 after acquiring 1,960 more shares last quarter. Legal & General Group Plc increased its stake in Berkshire Hills Bancorp shares by 2.0% in Q4. Legal & General Group Plc now owns 144,923 shares in the savings and loan company valued at $4,120,000 after acquiring 2,856 additional shares last quarter. Finally, Guggenheim Capital LLC increased its stake in Berkshire Hills Bancorp shares by 14.3% in the 4th quarter. Guggenheim Capital LLC now owns 26,713 shares of the savings and loan company valued at $759,000 after acquiring 3,336 additional shares last quarter. 78.17% of the shares are held by institutional investors.
About Berkshire Hills Bancorp (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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