Berkshire Hills Bancorp (NYSE:BHLB) Releases Earnings Results, Beats Estimates By $0.06 EPS

Berkshire Hills Bancorp (NYSE:BHLB) announced its quarterly earnings data on Thursday. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06, Zacks reports. Berkshire Hills Bancorp had a return on equity of 8.68% and a net margin of 5.86%.

Berkshire Hills Bancorp Trading Up 1.0 %

NYSE BHLB traded up $0.29 on Thursday, reaching $28.86. The stock had a trading volume of 28,172 shares, compared to its average volume of 382,891. Berkshire Hills Bancorp has a 12-month low of $20.50 and a 12-month high of $32.36. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $29.13 and a two-hundred day moving average price of $27.91. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 30.38 and a beta of 0.89.

Berkshire Hills Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.18 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.49%. Berkshire Hills Bancorp’s dividend payout ratio is currently 75.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Keefe, Bruyette & Woods lifted their target price on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a research report on Tuesday, December 24th. Royal Bank of Canada reduced their price target on shares of Berkshire Hills Bancorp from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. Finally, Seaport Res Ptn raised Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.13.

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.