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

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

Berkshire Hills Bancorp Trading Up 1.2 %

Berkshire Hills Bancorp stock traded up $0.35 during mid-day trading on Thursday, hitting $28.92. The stock had a trading volume of 30,890 shares, compared to its average volume of 383,354. The stock has a 50-day simple moving average of $29.13 and a two-hundred day simple moving average of $27.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.24 billion, a PE ratio of 30.39 and a beta of 0.89. Berkshire Hills Bancorp has a 12 month low of $20.50 and a 12 month high of $32.36.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.18 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 75.79%.

Wall Street Analysts Forecast Growth

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