Zacks: Brokerages Anticipate Berkshire Hills Bancorp, Inc. (BHLB) to Post $0.58 EPS
Wall Street analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to report earnings of $0.58 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Berkshire Hills Bancorp’s earnings. Berkshire Hills Bancorp reported earnings of $0.57 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.8%. The firm is expected to issue its next quarterly earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Berkshire Hills Bancorp will report full-year earnings of $2.29 per share for the current year, with EPS estimates ranging from $2.27 to $2.31. For the next fiscal year, analysts expect that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.60 to $2.64. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 6.93%. The firm had revenue of $102.34 million during the quarter, compared to analyst estimates of $102.75 million.
BHLB has been the subject of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, May 5th. Zacks Investment Research lowered Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. FIG Partners upgraded Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 23rd. BidaskClub lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 target price on shares of Berkshire Hills Bancorp in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Berkshire Hills Bancorp currently has an average rating of “Hold” and a consensus target price of $35.80.
In related news, Director Richard L. Murphy bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $34.25 per share, for a total transaction of $34,250.00. Following the transaction, the director now owns 9,668 shares of the company’s stock, valued at $331,129. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.82% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of BHLB. TFS Capital LLC raised its position in shares of Berkshire Hills Bancorp by 11.5% in the first quarter. TFS Capital LLC now owns 7,714 shares of the savings and loans company’s stock valued at $278,000 after buying an additional 797 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Berkshire Hills Bancorp during the first quarter valued at about $695,000. Bank of New York Mellon Corp raised its position in shares of Berkshire Hills Bancorp by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 313,219 shares of the savings and loans company’s stock valued at $11,292,000 after buying an additional 13,596 shares in the last quarter. Bbva Compass Bancshares Inc. raised its position in shares of Berkshire Hills Bancorp by 14.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 12,814 shares of the savings and loans company’s stock valued at $462,000 after buying an additional 1,600 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Berkshire Hills Bancorp by 48.5% in the first quarter. American Century Companies Inc. now owns 153,610 shares of the savings and loans company’s stock valued at $5,538,000 after buying an additional 50,164 shares in the last quarter. Institutional investors and hedge funds own 62.77% of the company’s stock.
Berkshire Hills Bancorp (NYSE BHLB) opened at 33.80 on Thursday. The stock’s 50 day moving average is $35.77 and its 200 day moving average is $35.72. Berkshire Hills Bancorp has a 52-week low of $26.45 and a 52-week high of $38.65. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 18.66 and a beta of 0.63.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.49%. Berkshire Hills Bancorp’s payout ratio is currently 46.15%.
Berkshire Hills Bancorp Company Profile
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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