Research Analysts Set Expectations for Berkshire Hills Bancorp, Inc.’s FY2024 Earnings (NYSE:BHLB)

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Equities research analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Berkshire Hills Bancorp in a report issued on Monday, September 16th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the savings and loans company will post earnings per share of $2.09 for the year, up from their prior estimate of $2.04. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.10 per share.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. 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 period last year, the business posted $0.55 earnings per share.

Several other analysts have also recently issued reports on BHLB. Hovde Group increased their price objective on Berkshire Hills Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. StockNews.com raised Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Janney Montgomery Scott cut Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.80.

Berkshire Hills Bancorp Trading Up 1.5 %

Shares of BHLB stock opened at $27.24 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.01 and a current ratio of 1.01. Berkshire Hills Bancorp has a fifty-two week low of $18.31 and a fifty-two week high of $28.51. The stock has a market capitalization of $1.18 billion, a P/E ratio of 54.48 and a beta of 0.86. The company has a 50 day moving average price of $26.43 and a 200 day moving average price of $23.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC raised its position in shares of Berkshire Hills Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,752 shares of the savings and loans company’s stock worth $201,000 after acquiring an additional 601 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Berkshire Hills Bancorp by 8.0% during the 4th quarter. Private Advisor Group LLC now owns 10,884 shares of the savings and loans company’s stock worth $270,000 after buying an additional 806 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Berkshire Hills Bancorp by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company’s stock valued at $2,815,000 after buying an additional 876 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Berkshire Hills Bancorp by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 22,799 shares of the savings and loans company’s stock valued at $520,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Berkshire Hills Bancorp by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,988 shares of the savings and loans company’s stock valued at $734,000 after acquiring an additional 1,753 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

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.