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

Berkshire Hills Bancorp (NYSE:BHLB) announced its earnings results on Thursday. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03, Briefing.com reports. The firm had revenue of $174.24 million for the quarter, compared to analyst estimates of $108.46 million. Berkshire Hills Bancorp had a return on equity of 8.61% and a net margin of 3.37%. During the same quarter last year, the firm posted $0.55 EPS.

Berkshire Hills Bancorp Trading Up 0.8 %

BHLB stock opened at $27.34 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 0.80. Berkshire Hills Bancorp has a 12-month low of $18.31 and a 12-month high of $27.97. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 54.68 and a beta of 0.88. The business’s 50-day moving average is $22.64 and its 200 day moving average is $22.58.

Berkshire Hills Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, June 20th. Berkshire Hills Bancorp’s payout ratio is 144.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Hovde Group raised their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.50.

About Berkshire Hills Bancorp

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.