Wall Street analysts expect that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will announce sales of $120.17 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with the lowest sales estimate coming in at $119.30 million and the highest estimate coming in at $121.90 million. Berkshire Hills Bancorp reported sales of $100.83 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.2%. The company is expected to issue its next quarterly earnings results on Thursday, October 18th.
On average, analysts expect that Berkshire Hills Bancorp will report full year sales of $478.53 million for the current fiscal year, with estimates ranging from $472.80 million to $485.80 million. For the next year, analysts anticipate that the company will post sales of $508.73 million per share, with estimates ranging from $496.10 million to $520.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Wednesday, July 18th. The savings and loans company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Berkshire Hills Bancorp had a net margin of 14.79% and a return on equity of 8.13%. The business had revenue of $121.15 million for the quarter, compared to the consensus estimate of $122.23 million.
BHLB remained flat at $$41.25 on Tuesday. 112,359 shares of the company traded hands, compared to its average volume of 231,130. Berkshire Hills Bancorp has a 1-year low of $32.85 and a 1-year high of $44.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $1.87 billion, a PE ratio of 18.01 and a beta of 0.74.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Stockholders of record on Thursday, August 9th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, August 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.13%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 38.43%.
In other news, EVP Michael D. Carroll sold 1,500 shares of the stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $42.53, for a total value of $63,795.00. Following the completion of the transaction, the executive vice president now owns 7,432 shares of the company’s stock, valued at $316,082.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Advisor Group Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 564.0% in the fourth quarter. Advisor Group Inc. now owns 2,875 shares of the savings and loans company’s stock worth $105,000 after acquiring an additional 2,442 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Berkshire Hills Bancorp in the first quarter worth about $115,000. Envestnet Asset Management Inc. lifted its holdings in shares of Berkshire Hills Bancorp by 236.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,162 shares of the savings and loans company’s stock worth $116,000 after acquiring an additional 2,222 shares during the last quarter. SG Americas Securities LLC bought a new position in Berkshire Hills Bancorp in the 1st quarter valued at approximately $159,000. Finally, Amalgamated Bank bought a new position in Berkshire Hills Bancorp in the 1st quarter valued at approximately $201,000. 69.76% of the stock is owned by hedge funds and other institutional investors.
About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.
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