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.

Dividend History for Berkshire Hills Bancorp (NYSE:BHLB)

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