Berkshire Hills Bancorp (BHLB) Set to Announce Quarterly Earnings on Thursday

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) is scheduled to be releasing its earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The business had revenue of $142.15 million for the quarter, compared to analyst estimates of $109.05 million. Berkshire Hills Bancorp had a return on equity of 9.48% and a net margin of 11.24%. During the same period in the previous year, the company posted $0.64 earnings per share. 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 Up 0.1 %

NYSE BHLB traded up $0.03 during trading on Thursday, hitting $20.89. The company's stock had a trading volume of 195,167 shares, compared to its average volume of 242,980. 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 cap of $907.96 million, a PE ratio of 13.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50 day simple moving average is $22.11 and its 200-day simple moving average is $22.15.

Berkshire Hills Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, March 20th. Berkshire Hills Bancorp's dividend payout ratio (DPR) is presently 45.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Berkshire Hills Bancorp from $24.00 to $25.00 and gave the company a "market perform" rating in a report on Tuesday, January 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. StockNews.com lowered shares of Berkshire Hills Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, March 21st. Piper Sandler raised shares of Berkshire Hills Bancorp from an "underweight" rating to a "neutral" rating and set a $24.00 price objective on the stock in a report on Wednesday, January 10th. Finally, Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a "sell" rating to a "neutral" rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $25.00.

Insider Transactions at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, Director Baye Adofo-Wilson sold 10,074 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was 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 available at this hyperlink. In other news, Director Baye Adofo-Wilson sold 10,074 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $22.19, for a total value of $223,542.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Zaitzeff sold 27,000 shares of the business's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $22.43, for a total transaction of $605,610.00. Following the transaction, the director now owns 11,855 shares in the company, valued at $265,907.65. 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 90 days. Corporate insiders own 1.83% of the company's stock.

Institutional Trading of Berkshire Hills Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of BHLB. Lazard Asset Management LLC purchased a new stake in shares of Berkshire Hills Bancorp during the 1st quarter valued at approximately $35,000. Russell Investments Group Ltd. acquired a new position in shares of Berkshire Hills Bancorp in the 1st quarter valued at $57,000. Quarry LP purchased a new position in shares of Berkshire Hills Bancorp during the 1st quarter worth $57,000. Tower Research Capital LLC TRC increased its position in shares of Berkshire Hills Bancorp by 304.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,538 shares of the savings and loans company's stock worth $63,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new stake in shares of Berkshire Hills Bancorp during the 4th quarter worth about $119,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.