Berkshire Hills Bancorp (BHLB) Set to Announce Quarterly Earnings on Thursday

Berkshire Hills Bancorp (NYSE:BHLB) will announce its earnings results before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Berkshire Hills Bancorp (NYSE:BHLB) last released its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Berkshire Hills Bancorp had a net margin of 11.24% and a return on equity of 9.48%. The business had revenue of $142.15 million for the quarter, compared to the consensus estimate of $109.05 million. During the same period last year, the firm posted $0.64 EPS. On average, analysts expect Berkshire Hills Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Berkshire Hills Bancorp Stock Down 1.8 %

BHLB opened at $20.51 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. Berkshire Hills Bancorp has a 12 month low of $18.07 and a 12 month high of $25.79. The stock’s 50 day moving average price is $21.99 and its 200 day moving average price is $22.20. The stock has a market cap of $891.36 million, a P/E ratio of 12.82 and a beta of 0.87.

Berkshire Hills Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 45.00%.

Analyst Ratings Changes

BHLB has been the subject of several research analyst reports. Piper Sandler raised shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price objective for the company in a report on Wednesday, January 10th. Keefe, Bruyette & Woods increased their price objective on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. Seaport Res Ptn upgraded Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a research report on Monday, January 29th. StockNews.com lowered Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

Insider Activity at Berkshire Hills Bancorp

In other news, Director Baye Adofo-Wilson sold 10,074 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total transaction of $223,542.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael Zaitzeff sold 20,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $22.02, for a total transaction of $451,410.00. Following the sale, the director now owns 87,947 shares in the company, valued at $1,936,592.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $22.19, for a total transaction of $223,542.06. The disclosure for this sale can be found here. Insiders sold a total of 224,788 shares of company stock valued at $5,239,449 over the last ninety days. Insiders own 1.02% of the company’s stock.

Institutional Trading of Berkshire Hills Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Berkshire Hills Bancorp in the 4th quarter worth approximately $11,809,000. Bank of America Corp DE grew its stake in Berkshire Hills Bancorp by 304.6% in the first quarter. Bank of America Corp DE now owns 286,657 shares of the savings and loans company’s stock valued at $7,184,000 after purchasing an additional 215,810 shares in the last quarter. Alliancebernstein L.P. increased its position in Berkshire Hills Bancorp by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,724,977 shares of the savings and loans company’s stock worth $35,759,000 after purchasing an additional 167,243 shares during the last quarter. BlackRock Inc. raised its stake in shares of Berkshire Hills Bancorp by 1.9% during the 1st quarter. BlackRock Inc. now owns 6,616,955 shares of the savings and loans company’s stock worth $165,821,000 after purchasing an additional 126,150 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Berkshire Hills Bancorp by 5.6% during the 1st quarter. State Street Corp now owns 2,141,842 shares of the savings and loans company’s stock valued at $53,675,000 after buying an additional 114,148 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.