Brokerages Expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Will Post Earnings of $0.63 Per Share

Equities analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to report earnings per share of $0.63 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with estimates ranging from $0.60 to $0.66. Berkshire Hills Bancorp posted earnings per share of $0.74 during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.9%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 17th.

On average, analysts expect that Berkshire Hills Bancorp will report full-year earnings of $2.61 per share for the current fiscal year, with EPS estimates ranging from $2.57 to $2.64. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.80 per share, with EPS estimates ranging from $2.74 to $2.85. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Monday, April 29th. The savings and loans company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). Berkshire Hills Bancorp had a net margin of 17.74% and a return on equity of 8.19%. The company had revenue of $107.18 million during the quarter, compared to analysts’ expectations of $114.40 million.

BHLB has been the subject of a number of recent analyst reports. ValuEngine cut Berkshire Hills Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, March 25th. Zacks Investment Research raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. FIG Partners reissued a “market-perform” rating on shares of Berkshire Hills Bancorp in a research report on Wednesday, May 1st. TheStreet raised Berkshire Hills Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, May 8th. Finally, Piper Jaffray Companies initiated coverage on Berkshire Hills Bancorp in a research report on Friday, May 31st. They issued a “neutral” rating and a $33.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.25.

Several institutional investors have recently bought and sold shares of BHLB. First Trust Advisors LP boosted its holdings in shares of Berkshire Hills Bancorp by 230.8% during the 1st quarter. First Trust Advisors LP now owns 44,275 shares of the savings and loans company’s stock worth $1,206,000 after purchasing an additional 30,890 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 37.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,088,889 shares of the savings and loans company’s stock worth $29,661,000 after purchasing an additional 297,201 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 2.1% during the 1st quarter. OppenheimerFunds Inc. now owns 513,708 shares of the savings and loans company’s stock worth $13,993,000 after purchasing an additional 10,404 shares during the last quarter. Hillcrest Asset Management LLC boosted its holdings in shares of Berkshire Hills Bancorp by 36.1% during the 1st quarter. Hillcrest Asset Management LLC now owns 354,786 shares of the savings and loans company’s stock worth $9,664,000 after purchasing an additional 94,082 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. boosted its holdings in shares of Berkshire Hills Bancorp by 7.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,315 shares of the savings and loans company’s stock worth $281,000 after purchasing an additional 691 shares during the last quarter. 77.40% of the stock is owned by hedge funds and other institutional investors.

Berkshire Hills Bancorp stock opened at $29.78 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $1.35 billion, a PE ratio of 11.15 and a beta of 1.04. Berkshire Hills Bancorp has a 1-year low of $25.77 and a 1-year high of $44.25. The stock has a fifty day simple moving average of $30.19.

Berkshire Hills Bancorp Company Profile

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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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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