Berkshire Hills Bancorp (BHLB) to Release Earnings on Thursday

Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) will release its earnings data before the market opens on Thursday, January 26th. Analysts expect Berkshire Hills Bancorp to post earnings of $0.64 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Berkshire Hills Bancorp Trading Down 0.2 %

NYSE:BHLB traded down $0.06 during trading hours on Tuesday, hitting $28.54. 241,869 shares of the stock were exchanged, compared to its average volume of 249,918. The company’s 50 day moving average is $30.01 and its two-hundred day moving average is $28.93. Berkshire Hills Bancorp has a twelve month low of $23.62 and a twelve month high of $31.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.29 billion, a P/E ratio of 16.22 and a beta of 0.99.

Berkshire Hills Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th were paid a $0.18 dividend. The ex-dividend date was Wednesday, November 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Berkshire Hills Bancorp’s previous quarterly dividend of $0.12. Berkshire Hills Bancorp’s dividend payout ratio is 40.91%.

Institutional Investors Weigh In On Berkshire Hills Bancorp

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in Berkshire Hills Bancorp by 318.3% in the 2nd quarter. Renaissance Technologies LLC now owns 100,400 shares of the savings and loans company’s stock valued at $2,487,000 after purchasing an additional 76,400 shares during the period. Voya Investment Management LLC boosted its stake in shares of Berkshire Hills Bancorp by 95.7% during the 2nd quarter. Voya Investment Management LLC now owns 118,440 shares of the savings and loans company’s stock valued at $2,934,000 after purchasing an additional 57,918 shares in the last quarter. State Street Corp boosted its stake in shares of Berkshire Hills Bancorp by 2.5% during the 1st quarter. State Street Corp now owns 2,352,989 shares of the savings and loans company’s stock valued at $68,166,000 after purchasing an additional 56,505 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Berkshire Hills Bancorp by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,253,783 shares of the savings and loans company’s stock valued at $152,203,000 after purchasing an additional 51,437 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Berkshire Hills Bancorp by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,820,311 shares of the savings and loans company’s stock worth $81,705,000 after acquiring an additional 45,304 shares in the last quarter. Hedge funds and other institutional investors own 80.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHLB. Piper Sandler cut Berkshire Hills Bancorp from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $31.00 to $29.00 in a report on Friday, October 14th. StockNews.com started coverage on shares of Berkshire Hills Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Hovde Group raised their target price on shares of Berkshire Hills Bancorp to $34.00 in a report on Monday, December 12th. Finally, TheStreet raised shares of Berkshire Hills Bancorp from a “c” rating to a “b-” rating in a research note on Monday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.25.

About Berkshire Hills Bancorp

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Berkshire Hills Bancorp, Inc operates as the 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.