Berkshire Hills Bancorp (NYSE:BHLB) Releases Earnings Results, Beats Expectations By $0.03 EPS

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

Berkshire Hills Bancorp Stock Up 0.8 %

Shares of Berkshire Hills Bancorp stock opened at $27.34 on Friday. The business’s fifty day moving average price is $22.64 and its two-hundred day moving average price is $22.58. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.01. The company has a market capitalization of $1.18 billion, a P/E ratio of 54.68 and a beta of 0.88. Berkshire Hills Bancorp has a 1-year low of $18.31 and a 1-year high of $27.97.

Berkshire Hills Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on BHLB shares. StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Hovde Group raised their price target on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp presently has a consensus rating of “Hold” and a consensus target price of $26.50.

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.