Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) - Analysts at Seaport Res Ptn raised their Q2 2024 earnings per share estimates for Berkshire Hills Bancorp in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst L. Hunsicker now expects that the savings and loans company will earn $0.53 per share for the quarter, up from their prior forecast of $0.48. Seaport Res Ptn has a "Neutral" rating on the stock. The consensus estimate for Berkshire Hills Bancorp's current full-year earnings is $2.05 per share. Seaport Res Ptn also issued estimates for Berkshire Hills Bancorp's Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $2.05 EPS, Q2 2025 earnings at $0.57 EPS and FY2025 earnings at $2.31 EPS.
A number of other research analysts also recently issued reports on BHLB. Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 price target on shares of Berkshire Hills Bancorp in a research note on Friday, January 26th. StockNews.com lowered Berkshire Hills Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, March 21st. Keefe, Bruyette & Woods upped their price objective on Berkshire Hills Bancorp from $24.00 to $25.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 30th. Finally, Piper Sandler raised Berkshire Hills Bancorp from an "underweight" rating to a "neutral" rating and set a $24.00 target price on the stock in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, Berkshire Hills Bancorp currently has a consensus rating of "Hold" and a consensus price target of $25.00.
Read Our Latest Analysis on BHLB
Berkshire Hills Bancorp Stock Up 0.3 %
BHLB stock traded up $0.07 during mid-day trading on Friday, reaching $22.36. The company had a trading volume of 184,968 shares, compared to its average volume of 238,862. Berkshire Hills Bancorp has a fifty-two week low of $18.07 and a fifty-two week high of $25.79. The company has a market capitalization of $971.77 million, a price-to-earnings ratio of 44.72 and a beta of 0.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $22.31.
Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $169.32 million for the quarter, compared to analysts' expectations of $107.89 million. Berkshire Hills Bancorp had a net margin of 3.40% and a return on equity of 8.77%. During the same quarter in the prior year, the company earned $0.63 earnings per share.
Institutional Trading of Berkshire Hills Bancorp
A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in Berkshire Hills Bancorp by 77.5% during the first quarter. BNP Paribas Financial Markets now owns 21,698 shares of the savings and loans company's stock worth $497,000 after purchasing an additional 9,472 shares during the period. Commonwealth Equity Services LLC increased its holdings in Berkshire Hills Bancorp by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 122,812 shares of the savings and loans company's stock valued at $2,815,000 after purchasing an additional 876 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Berkshire Hills Bancorp during the fourth quarter worth about $485,000. Wellington Management Group LLP boosted its position in shares of Berkshire Hills Bancorp by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 1,426,599 shares of the savings and loans company's stock worth $35,422,000 after buying an additional 43,822 shares during the period. Finally, Teton Advisors Inc. acquired a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 83.07% of the company's stock.
Insider Buying and Selling at Berkshire Hills Bancorp
In related news, Director Baye Adofo-Wilson sold 10,074 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $22.19, for a total transaction of $223,542.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael Zaitzeff sold 20,718 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $22.73, for a total value of $470,920.14. Following the sale, the director now directly owns 156,209 shares in the company, valued at $3,550,630.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 152,850 shares of company stock worth $3,437,063. 1.02% of the stock is owned by insiders.
Berkshire Hills Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, March 20th. Berkshire Hills Bancorp's dividend payout ratio (DPR) is 144.00%.
Berkshire Hills Bancorp Company Profile
(
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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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