Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Announces Quarterly Dividend of $0.18

Key Points

• Berkshire Hills Bancorp has declared a quarterly dividend of $0.18 per share, with a payment date of August 21st for shareholders of record by August 14th, representing a yield of 3.0%.
• The company's earnings reports show a recent EPS of $0.69, which exceeds analyst expectations, along with a revenue increase of 4.6% year-over-year.
• Institutional investors hold 83.07% of Berkshire Hills Bancorp’s stock, with significant recent increases in positions from firms like Fuller & Thaler Asset Management and Adage Capital Partners.

Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Get Free Report) declared a quarterly dividend on Friday, August 1st, RTT News reports. Shareholders of record on Thursday, August 14th will be paid a dividend of 0.18 per share by the savings and loans company on Thursday, August 21st. This represents a c) annualized dividend and a yield of 3.0%.

Berkshire Hills Bancorp has a dividend payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 3.6%

BHLB stock opened at $24.13 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.02. The company's 50 day simple moving average is $25.40 and its 200-day simple moving average is $26.21. Berkshire Hills Bancorp has a 12 month low of $22.27 and a 12 month high of $32.36. The firm has a market capitalization of $1.12 billion, a PE ratio of 9.43 and a beta of 0.61.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.11. Berkshire Hills Bancorp had a net margin of 15.93% and a return on equity of 9.45%. The business had revenue of $113.67 million for the quarter, compared to the consensus estimate of $113.34 million. During the same period in the previous year, the firm earned $0.55 EPS. The business's revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts expect that Berkshire Hills Bancorp will post 2.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. grew its position in Berkshire Hills Bancorp by 166.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,842,975 shares of the savings and loans company's stock worth $48,083,000 after acquiring an additional 1,151,107 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth $29,410,000. Nuveen LLC bought a new stake in shares of Berkshire Hills Bancorp during the 1st quarter worth $17,966,000. ExodusPoint Capital Management LP boosted its holdings in shares of Berkshire Hills Bancorp by 623.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 516,603 shares of the savings and loans company's stock worth $14,687,000 after buying an additional 445,228 shares during the period. Finally, Bayview Asset Management LLC bought a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth $9,330,000. Institutional investors and hedge funds own 83.07% of the company's stock.

About Berkshire Hills Bancorp

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.

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