Berkshire Hills Bancorp (BHLB) Scheduled to Post Quarterly Earnings on Thursday

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

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.47 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $142.15 million during the quarter, compared to analyst estimates of $109.05 million. During the same quarter in the prior 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 0.1 %

Shares of NYSE:BHLB opened at $20.88 on Tuesday. Berkshire Hills Bancorp has a 52 week low of $18.07 and a 52 week high of $25.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. The company’s fifty day moving average is $22.03 and its 200-day moving average is $22.20. The company has a market capitalization of $907.44 million, a PE ratio of 13.05 and a beta of 0.87.

Berkshire Hills Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a $0.18 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.45%. Berkshire Hills Bancorp’s dividend payout ratio is presently 45.00%.

Insider Activity at Berkshire Hills Bancorp

In related news, Director Baye Adofo-Wilson sold 10,074 shares of Berkshire Hills Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Berkshire Hills Bancorp news, Director Michael Zaitzeff sold 51,910 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $25.18, for a total transaction of $1,307,093.80. Following the completion of the sale, the director now directly owns 2,665 shares of the company’s stock, valued at approximately $67,104.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baye Adofo-Wilson sold 10,074 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $22.19, for a total value of $223,542.06. The disclosure for this sale can be found here. Insiders sold 224,788 shares of company stock valued at $5,239,449 over the last ninety days. 1.02% of the stock is owned by insiders.

Institutional Trading of Berkshire Hills Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Berkshire Hills Bancorp by 22.4% in the 1st quarter. American Century Companies Inc. now owns 8,833 shares of the savings and loans company’s stock valued at $256,000 after acquiring an additional 1,617 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Berkshire Hills Bancorp by 16.2% in the 1st quarter. Private Advisor Group LLC now owns 8,357 shares of the savings and loans company’s stock valued at $242,000 after acquiring an additional 1,162 shares during the last quarter. Citigroup Inc. increased its stake in shares of Berkshire Hills Bancorp by 2.9% in the 1st quarter. Citigroup Inc. now owns 47,577 shares of the savings and loans company’s stock valued at $1,378,000 after acquiring an additional 1,329 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Berkshire Hills Bancorp by 14.9% in the 1st quarter. Natixis Advisors L.P. now owns 14,862 shares of the savings and loans company’s stock valued at $431,000 after acquiring an additional 1,932 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Berkshire Hills Bancorp by 66.2% in the 1st quarter. Bank of Montreal Can now owns 31,848 shares of the savings and loans company’s stock valued at $936,000 after acquiring an additional 12,684 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BHLB has been the topic of several recent analyst reports. Piper Sandler upgraded shares of Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 target price on the stock in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods boosted their target price on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. StockNews.com downgraded shares of Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Seaport Res Ptn raised Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price target on shares of Berkshire Hills Bancorp in a report 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

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.