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

Berkshire Hills Bancorp (NYSE:BHLB) issued 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 during the quarter, compared to analyst estimates of $108.46 million. Berkshire Hills Bancorp had a net margin of 3.37% and a return on equity of 8.61%. During the same period in the previous year, the firm earned $0.55 earnings per share.

Berkshire Hills Bancorp Stock Performance

BHLB stock opened at $27.34 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.01. The business has a 50-day moving average price of $22.64 and a 200 day moving average price of $22.58. The company has a market capitalization of $1.18 billion, a P/E ratio of 54.68 and a beta of 0.88. Berkshire Hills Bancorp has a 1-year low of $18.31 and a 1-year high of $27.97.

Berkshire Hills Bancorp Announces Dividend

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. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.72 annualized dividend and a dividend yield of 2.63%. Berkshire Hills Bancorp’s payout ratio is currently 144.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BHLB. StockNews.com lowered shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Hovde Group boosted their target price 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Berkshire Hills Bancorp presently has an average rating of “Hold” and a consensus target price of $26.50.

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.