Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Forecasted to Earn Q4 2024 Earnings of $0.51 Per Share

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Seaport Res Ptn lowered their Q4 2024 earnings estimates for shares of Berkshire Hills Bancorp in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst L. Hunsicker now anticipates that the savings and loans company will post earnings per share of $0.51 for the quarter, down from their previous estimate of $0.55. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Berkshire Hills Bancorp’s current full-year earnings is $2.05 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp’s Q1 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.59 EPS and Q4 2025 earnings at $0.61 EPS.

Other equities analysts have also recently issued reports about the stock. Piper Sandler raised shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a research note on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. StockNews.com cut shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

Berkshire Hills Bancorp Price Performance

Shares of BHLB opened at $21.91 on Thursday. The stock has a market capitalization of $952.21 million, a P/E ratio of 43.82 and a beta of 0.87. Berkshire Hills Bancorp has a twelve month low of $18.07 and a twelve month high of $25.79. The company has a 50 day moving average of $21.83 and a 200-day moving average of $22.30. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its earnings results on Thursday, April 18th. The savings and loans company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $169.32 million for the quarter, compared to the consensus estimate of $107.89 million. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. During the same period last year, the company posted $0.63 EPS.

Berkshire Hills Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were paid a $0.18 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.29%. Berkshire Hills Bancorp’s dividend payout ratio is presently 144.00%.

Insider Buying and Selling at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, Director Baye Adofo-Wilson sold 10,074 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total transaction of $223,542.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 19,660 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $22.20, for a total transaction of $436,452.00. Following the completion of the sale, the director now owns 200,054 shares of the company’s stock, valued at approximately $4,441,198.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The disclosure for this sale can be found here. Insiders sold 152,850 shares of company stock valued at $3,437,063 in the last quarter. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Berkshire Hills Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in shares of Berkshire Hills Bancorp by 77.5% during the first quarter. BNP Paribas Financial Markets now owns 21,698 shares of the savings and loans company’s stock worth $497,000 after buying an additional 9,472 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Berkshire Hills Bancorp by 0.7% during the first quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company’s stock worth $2,815,000 after buying an additional 876 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Berkshire Hills Bancorp during the fourth quarter worth $485,000. Wellington Management Group LLP raised its stake in Berkshire Hills Bancorp by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company’s stock valued at $35,422,000 after purchasing an additional 43,822 shares in the last quarter. Finally, Teton Advisors Inc. acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.