Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Free Report) declared a quarterly dividend on Friday, November 1st, RTT News reports. Shareholders of record on Thursday, November 14th will be given a dividend of 0.18 per share by the savings and loans company on Wednesday, November 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.64%.
Berkshire Hills Bancorp has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berkshire Hills Bancorp to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 29.8%.
Berkshire Hills Bancorp Price Performance
NYSE:BHLB opened at $27.32 on Friday. Berkshire Hills Bancorp has a 12 month low of $20.02 and a 12 month high of $28.51. The company’s 50-day moving average price is $26.98 and its two-hundred day moving average price is $24.73. The firm has a market cap of $1.17 billion, a PE ratio of 28.76 and a beta of 0.86. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.66.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on BHLB shares. Hovde Group upped their target price on shares of Berkshire Hills Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Janney Montgomery Scott downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.80.
View Our Latest Report on BHLB
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.
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