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

Berkshire Hills Bancorp (NYSE:BHLB) issued its quarterly earnings results on Thursday. The savings and loans company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03, Briefing.com reports. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. The business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $119.61 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis.

Berkshire Hills Bancorp Stock Down 0.5 %

BHLB traded down $0.14 during trading on Friday, reaching $27.16. 66,379 shares of the stock traded hands, compared to its average volume of 254,676. The stock’s 50-day simple moving average is $26.89 and its two-hundred day simple moving average is $24.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.01 and a quick ratio of 1.01. Berkshire Hills Bancorp has a fifty-two week low of $18.87 and a fifty-two week high of $28.51. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 54.62 and a beta of 0.86.

Berkshire Hills Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.65%. Berkshire Hills Bancorp’s dividend payout ratio is 144.00%.

Analyst Ratings Changes

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

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.