Zacks: Brokerages Expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Will Post Earnings of $0.46 Per Share

Wall Street brokerages predict that Berkshire Hills Bancorp, Inc. (NYSE:BHLBGet Rating) will announce earnings of $0.46 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Berkshire Hills Bancorp’s earnings, with estimates ranging from $0.44 to $0.47. Berkshire Hills Bancorp reported earnings per share of $0.43 during the same quarter last year, which would suggest a positive year over year growth rate of 7%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Berkshire Hills Bancorp will report full year earnings of $1.83 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.86. For the next financial year, analysts forecast that the firm will post earnings of $2.02 per share, with EPS estimates ranging from $1.99 to $2.05. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Berkshire Hills Bancorp.

Berkshire Hills Bancorp (NYSE:BHLBGet Rating) last announced its earnings results on Wednesday, April 20th. The savings and loans company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Berkshire Hills Bancorp had a net margin of 27.75% and a return on equity of 7.67%. During the same period in the prior year, the firm earned $0.32 earnings per share.

Several brokerages have recently weighed in on BHLB. Zacks Investment Research upgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Friday, May 27th. Compass Point cut shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating and cut their price target for the company from $29.00 to $23.00 in a report on Thursday, April 21st. TheStreet cut shares of Berkshire Hills Bancorp from a “b-” rating to a “c” rating in a report on Thursday, May 12th. Finally, StockNews.com initiated coverage on shares of Berkshire Hills Bancorp in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Berkshire Hills Bancorp has an average rating of “Hold” and an average target price of $29.00.

In related news, Director Michael Zaitzeff sold 1,274,279 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $24.70, for a total value of $31,474,691.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BHLB. Goldman Sachs Group Inc. lifted its position in shares of Berkshire Hills Bancorp by 626.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,077,583 shares of the savings and loans company’s stock worth $30,635,000 after purchasing an additional 929,200 shares in the last quarter. Norges Bank acquired a new position in Berkshire Hills Bancorp during the fourth quarter valued at approximately $13,618,000. Invesco Ltd. grew its holdings in Berkshire Hills Bancorp by 22.0% during the fourth quarter. Invesco Ltd. now owns 1,157,369 shares of the savings and loans company’s stock valued at $32,904,000 after purchasing an additional 208,895 shares during the last quarter. Morgan Stanley grew its stake in shares of Berkshire Hills Bancorp by 88.0% in the second quarter. Morgan Stanley now owns 250,768 shares of the savings and loans company’s stock worth $6,874,000 after acquiring an additional 117,406 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Berkshire Hills Bancorp by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,847,465 shares of the savings and loans company’s stock worth $52,523,000 after buying an additional 115,104 shares in the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.

Shares of BHLB stock traded down $0.33 on Wednesday, hitting $26.06. The stock had a trading volume of 161,055 shares, compared to its average volume of 305,337. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.10 and a beta of 1.07. The stock’s 50 day moving average is $26.38 and its 200-day moving average is $28.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Berkshire Hills Bancorp has a 52-week low of $23.15 and a 52-week high of $31.78.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.84%. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 18.60%.

Berkshire Hills Bancorp Company Profile (Get Rating)

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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