Berkshire Hills Bancorp (NYSE:BHLB) Issues Earnings Results

Berkshire Hills Bancorp (NYSE:BHLB) posted its quarterly earnings results on Thursday. The savings and loans company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03, Briefing.com reports. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $108.46 million. During the same quarter in the previous year, the business posted $0.55 EPS.

Berkshire Hills Bancorp Stock Up 0.8 %

Shares of BHLB stock traded up $0.21 during trading hours on Friday, reaching $27.34. 503,900 shares of the company’s stock were exchanged, compared to its average volume of 286,536. Berkshire Hills Bancorp has a fifty-two week low of $18.31 and a fifty-two week high of $27.97. The stock’s 50 day moving average is $22.64 and its 200-day moving average is $22.59. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 54.68 and a beta of 0.88.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, June 20th. Berkshire Hills Bancorp’s dividend payout ratio is currently 144.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BHLB. Hovde Group lifted their price objective on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.50.

About Berkshire Hills Bancorp

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.