Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to Post Q3 2024 Earnings of $0.54 Per Share, Seaport Res Ptn Forecasts

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Investment analysts at Seaport Res Ptn raised their Q3 2024 earnings per share (EPS) estimates for shares of Berkshire Hills Bancorp in a research note issued on Monday, September 16th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the savings and loans company will earn $0.54 per share for the quarter, up from their prior forecast of $0.51. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.10 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $2.33 EPS.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, July 18th. The savings and loans company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $108.46 million. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. During the same period in the prior year, the company earned $0.55 earnings per share.

A number of other equities analysts have also weighed in on BHLB. StockNews.com upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Monday, July 22nd. Finally, Hovde Group boosted their target price on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Berkshire Hills Bancorp currently has an average rating of “Hold” and a consensus price target of $26.80.

Berkshire Hills Bancorp Stock Up 1.2 %

BHLB stock opened at $26.83 on Tuesday. The stock has a fifty day moving average of $26.24 and a 200-day moving average of $23.49. Berkshire Hills Bancorp has a fifty-two week low of $18.31 and a fifty-two week high of $28.51. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 53.66 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. LSV Asset Management raised its position in shares of Berkshire Hills Bancorp by 116.2% in the first quarter. LSV Asset Management now owns 680,903 shares of the savings and loans company’s stock worth $15,606,000 after buying an additional 365,952 shares in the last quarter. Norges Bank bought a new position in Berkshire Hills Bancorp in the 4th quarter worth about $7,963,000. Assenagon Asset Management S.A. purchased a new stake in shares of Berkshire Hills Bancorp in the 2nd quarter valued at about $6,330,000. Renaissance Technologies LLC boosted its position in shares of Berkshire Hills Bancorp by 60.4% during the 2nd quarter. Renaissance Technologies LLC now owns 422,621 shares of the savings and loans company’s stock valued at $9,636,000 after acquiring an additional 159,200 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Berkshire Hills Bancorp by 126.0% during the second quarter. Millennium Management LLC now owns 183,616 shares of the savings and loans company’s stock worth $4,186,000 after purchasing an additional 102,384 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Berkshire Hills Bancorp Company Profile

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.