Analysts Expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Will Post Quarterly Sales of $115.50 Million

Wall Street brokerages forecast that Berkshire Hills Bancorp, Inc. (NYSE:BHLB) will report sales of $115.50 million for the current quarter, according to Zacks. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with the highest sales estimate coming in at $117.90 million and the lowest estimate coming in at $113.09 million. Berkshire Hills Bancorp posted sales of $114.47 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.9%. The company is expected to issue its next earnings results on Wednesday, January 22nd.

According to Zacks, analysts expect that Berkshire Hills Bancorp will report full-year sales of $450.87 million for the current fiscal year, with estimates ranging from $446.53 million to $455.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $466.62 million, with estimates ranging from $462.24 million to $471.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its earnings results on Monday, October 28th. The savings and loans company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. Berkshire Hills Bancorp had a return on equity of 7.68% and a net margin of 14.48%. The firm had revenue of $118.28 million for the quarter, compared to analysts’ expectations of $120.37 million.

A number of research analysts have weighed in on BHLB shares. Zacks Investment Research upgraded Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. ValuEngine raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.80.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in Berkshire Hills Bancorp by 230.8% in the 1st quarter. First Trust Advisors LP now owns 44,275 shares of the savings and loans company’s stock valued at $1,206,000 after purchasing an additional 30,890 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Berkshire Hills Bancorp by 11.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the savings and loans company’s stock valued at $537,000 after acquiring an additional 1,800 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Berkshire Hills Bancorp by 6.2% during the second quarter. New York State Teachers Retirement System now owns 17,077 shares of the savings and loans company’s stock valued at $536,000 after acquiring an additional 1,000 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Berkshire Hills Bancorp by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 45,909 shares of the savings and loans company’s stock valued at $1,441,000 after acquiring an additional 1,889 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Berkshire Hills Bancorp by 13.0% in the 2nd quarter. Arizona State Retirement System now owns 70,622 shares of the savings and loans company’s stock valued at $2,217,000 after acquiring an additional 8,108 shares during the period. 72.92% of the stock is owned by hedge funds and other institutional investors.

BHLB traded down $0.10 during midday trading on Monday, hitting $31.45. 4,725 shares of the company traded hands, compared to its average volume of 246,044. The business has a 50 day simple moving average of $31.39 and a two-hundred day simple moving average of $30.53. Berkshire Hills Bancorp has a 52-week low of $25.77 and a 52-week high of $33.33. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 11.59 and a beta of 1.08. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. Berkshire Hills Bancorp’s payout ratio is 33.95%.

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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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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