Equities analysts predict that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will report $117.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with estimates ranging from $114.60 million to $119.70 million. Berkshire Hills Bancorp reported sales of $118.62 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 16th.
According to Zacks, analysts expect that Berkshire Hills Bancorp will report full-year sales of $450.45 million for the current fiscal year, with estimates ranging from $443.40 million to $457.50 million. For the next year, analysts anticipate that the company will post sales of $470.35 million, with estimates ranging from $456.70 million to $484.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $109.11 million during the quarter, compared to the consensus estimate of $114.10 million. Berkshire Hills Bancorp had a net margin of 16.28% and a return on equity of 7.76%.
In related news, Director Rheo A. Brouillard sold 9,454 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $32.80, for a total value of $310,091.20. Following the transaction, the director now directly owns 21,004 shares in the company, valued at approximately $688,931.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.76% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in shares of Berkshire Hills Bancorp during the 1st quarter valued at $28,550,000. Norges Bank purchased a new stake in shares of Berkshire Hills Bancorp during the 4th quarter valued at $10,435,000. Westwood Holdings Group Inc. increased its position in shares of Berkshire Hills Bancorp by 37.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,088,889 shares of the savings and loans company’s stock valued at $29,661,000 after purchasing an additional 297,201 shares during the last quarter. Jacobs Asset Management LLC increased its position in shares of Berkshire Hills Bancorp by 21.7% during the 2nd quarter. Jacobs Asset Management LLC now owns 551,692 shares of the savings and loans company’s stock valued at $17,318,000 after purchasing an additional 98,379 shares during the last quarter. Finally, Hillcrest Asset Management LLC increased its position in shares of Berkshire Hills Bancorp by 36.1% during the 1st quarter. Hillcrest Asset Management LLC now owns 354,786 shares of the savings and loans company’s stock valued at $9,664,000 after purchasing an additional 94,082 shares during the last quarter. 77.52% of the stock is owned by institutional investors and hedge funds.
BHLB traded up $0.16 during trading on Friday, reaching $29.92. 134,892 shares of the stock were exchanged, compared to its average volume of 269,048. The company has a market cap of $1.36 billion, a PE ratio of 11.02 and a beta of 1.06. Berkshire Hills Bancorp has a twelve month low of $25.77 and a twelve month high of $43.40. The business’s 50 day moving average price is $30.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.89 and a current ratio of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, August 7th. Berkshire Hills Bancorp’s payout ratio is 33.95%.
Berkshire Hills Bancorp Company Profile
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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