Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) declared a quarterly dividend on Friday, May 2nd, RTT News reports. Investors of record on Thursday, May 15th will be given a dividend of 0.18 per share by the savings and loans company on Thursday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.81%.
Berkshire Hills Bancorp has increased its dividend payment by an average of 14.5% per year over the last three years. Berkshire Hills Bancorp has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Berkshire Hills Bancorp to earn $3.78 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 19.0%.
Berkshire Hills Bancorp Price Performance
NYSE:BHLB traded up $0.54 during mid-day trading on Friday, reaching $25.63. 351,876 shares of the company were exchanged, compared to its average volume of 369,588. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.19 billion, a PE ratio of 17.80 and a beta of 0.53. Berkshire Hills Bancorp has a 12 month low of $20.76 and a 12 month high of $32.36. The company has a fifty day moving average of $25.38 and a 200 day moving average of $27.80.
Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a net margin of 8.56% and a return on equity of 8.91%. The business had revenue of $110.44 million for the quarter, compared to analysts' expectations of $109.71 million. During the same period in the prior year, the firm earned $0.49 earnings per share. Berkshire Hills Bancorp's revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Berkshire Hills Bancorp will post 2.52 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Ellen Tulchiner sold 1,052 shares of Berkshire Hills Bancorp stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.02% of the company's stock.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada restated a "sector perform" rating and set a $31.00 target price on shares of Berkshire Hills Bancorp in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.13.
Check Out Our Latest Research Report on Berkshire Hills Bancorp
Berkshire Hills Bancorp Company Profile
(
Get Free Report)
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.
Read More
Before you consider Berkshire Hills Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Berkshire Hills Bancorp wasn't on the list.
While Berkshire Hills Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
