Berkshire Hills Bancorp, Inc. (NYSE:BHLB) To Go Ex-Dividend on August 8th
Berkshire Hills Bancorp, Inc. (NYSE:BHLB) declared a quarterly dividend on Thursday, July 20th, Wall Street Journal reports. Shareholders of record on Thursday, August 10th will be paid a dividend of 0.21 per share by the savings and loans company on Thursday, August 24th. This represents a $0.84 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, August 8th.
Berkshire Hills Bancorp has increased its dividend by an average of 3.6% annually over the last three years and has raised its dividend every year for the last 2 years. Berkshire Hills Bancorp has a dividend payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Berkshire Hills Bancorp to earn $2.62 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 32.1%.
Berkshire Hills Bancorp (BHLB) opened at 36.20 on Monday. Berkshire Hills Bancorp has a 12 month low of $26.25 and a 12 month high of $38.65. The firm has a 50-day moving average of $36.02 and a 200 day moving average of $35.76. The firm has a market capitalization of $1.35 billion, a PE ratio of 19.99 and a beta of 0.63.
Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings results on Wednesday, July 19th. The savings and loans company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $102.34 million for the quarter, compared to the consensus estimate of $102.75 million. Berkshire Hills Bancorp had a net margin of 15.03% and a return on equity of 7.31%. Equities research analysts forecast that Berkshire Hills Bancorp will post $2.28 earnings per share for the current year.
Several research analysts have commented on BHLB shares. FIG Partners raised shares of Berkshire Hills Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 23rd. Zacks Investment Research downgraded shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub raised shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, May 5th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $42.00 price target on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.80.
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About Berkshire Hills Bancorp
Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.
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