Berkshire Hills Bancorp (BHLB) Scheduled to Post Earnings on Thursday

Berkshire Hills Bancorp (NYSE:BHLB) is scheduled to be releasing its earnings data before the market opens on Thursday, April 18th. Analysts expect Berkshire Hills Bancorp to post earnings of $0.47 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $142.15 million for the quarter, compared to analyst estimates of $109.05 million. Berkshire Hills Bancorp had a return on equity of 9.48% and a net margin of 11.24%. During the same quarter last year, the business earned $0.64 EPS. On average, analysts expect Berkshire Hills Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Berkshire Hills Bancorp Price Performance

NYSE:BHLB opened at $20.86 on Thursday. The firm has a market cap of $906.66 million, a PE ratio of 13.04 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. Berkshire Hills Bancorp has a 12 month low of $18.07 and a 12 month high of $25.79. The company’s 50-day moving average price is $22.15 and its two-hundred day moving average price is $22.16.

Berkshire Hills Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.72 dividend on an annualized basis and a yield of 3.45%. Berkshire Hills Bancorp’s dividend payout ratio is 45.00%.

Insider Activity

In related news, Director Michael Zaitzeff sold 20,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $22.02, for a total transaction of $451,410.00. Following the completion of the sale, the director now directly owns 87,947 shares of the company’s stock, valued at $1,936,592.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Baye Adofo-Wilson sold 10,074 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $22.19, for a total value of $223,542.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Zaitzeff sold 20,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $22.02, for a total transaction of $451,410.00. Following the completion of the sale, the director now owns 87,947 shares of the company’s stock, valued at approximately $1,936,592.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 224,788 shares of company stock valued at $5,239,449. 1.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHLB. FMR LLC boosted its position in Berkshire Hills Bancorp by 3.8% during the 2nd quarter. FMR LLC now owns 13,959 shares of the savings and loans company’s stock worth $346,000 after acquiring an additional 515 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Berkshire Hills Bancorp by 10.6% during the first quarter. Belpointe Asset Management LLC now owns 5,460 shares of the savings and loans company’s stock worth $137,000 after purchasing an additional 525 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Berkshire Hills Bancorp by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,831 shares of the savings and loans company’s stock valued at $308,000 after purchasing an additional 804 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Berkshire Hills Bancorp by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,235 shares of the savings and loans company’s stock valued at $751,000 after purchasing an additional 817 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in Berkshire Hills Bancorp by 3.8% in the 4th quarter. State of Tennessee Treasury Department now owns 24,683 shares of the savings and loans company’s stock valued at $613,000 after buying an additional 896 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Piper Sandler raised shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Wednesday, January 10th. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective on shares of Berkshire Hills Bancorp in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.00.

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.