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

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) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, August 14th.

Berkshire Hills Bancorp has a dividend payout ratio of 22.3% meaning 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 Trading Up 0.6%

Shares of BHLB stock traded up $0.15 during trading hours on Tuesday, reaching $24.69. 315,395 shares of the stock were exchanged, compared to its average volume of 488,534. Berkshire Hills Bancorp has a 12-month low of $22.27 and a 12-month high of $32.36. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. The company's 50-day moving average price is $25.38 and its 200-day moving average price is $26.13. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.64 and a beta of 0.66.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly 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 firm had revenue of $113.67 million during the quarter, compared to analysts' expectations of $113.34 million. During the same period in the previous year, the company earned $0.55 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Berkshire Hills Bancorp will post 2.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reissued a "sector perform" rating and issued a $31.00 price objective on shares of Berkshire Hills Bancorp in a research report on Monday, April 28th.

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.