Berkshire Hills Bancorp (BHLB) Scheduled to Post Earnings on Thursday

Berkshire Hills Bancorp (NYSE:BHLB) will be issuing its quarterly 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 interested in participating in the company’s conference call can do so using this link.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $142.15 million during the quarter, compared to analysts’ expectations 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 EPS. 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 Down 1.8 %

Berkshire Hills Bancorp stock opened at $20.51 on Wednesday. Berkshire Hills Bancorp has a twelve month low of $18.07 and a twelve month high of $25.79. The business has a fifty day moving average of $21.99 and a two-hundred day moving average of $22.20. The firm has a market cap of $891.36 million, a P/E ratio of 12.82 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24.

Berkshire Hills Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Wednesday, March 20th. Berkshire Hills Bancorp’s dividend payout ratio is currently 45.00%.

Insider Activity

In other news, Director Michael Zaitzeff sold 20,028 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $24.73, for a total value of $495,292.44. Following the completion of the sale, the director now directly owns 288,483 shares in the company, valued at $7,134,184.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael Zaitzeff sold 20,028 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $24.73, for a total value of $495,292.44. Following the completion of the transaction, the director now directly owns 288,483 shares in the company, valued at $7,134,184.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baye Adofo-Wilson sold 10,074 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were 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. Insiders sold 224,788 shares of company stock worth $5,239,449 over the last three months. Insiders own 1.02% of the company’s stock.

Institutional Trading of Berkshire Hills Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in Berkshire Hills Bancorp by 22.4% during the 1st quarter. American Century Companies Inc. now owns 8,833 shares of the savings and loans company’s stock worth $256,000 after purchasing an additional 1,617 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Berkshire Hills Bancorp by 16.2% during the first quarter. Private Advisor Group LLC now owns 8,357 shares of the savings and loans company’s stock worth $242,000 after buying an additional 1,162 shares during the period. Citigroup Inc. lifted its stake in Berkshire Hills Bancorp by 2.9% in the first quarter. Citigroup Inc. now owns 47,577 shares of the savings and loans company’s stock worth $1,378,000 after acquiring an additional 1,329 shares during the last quarter. Natixis Advisors L.P. grew its holdings in Berkshire Hills Bancorp by 14.9% during the 1st quarter. Natixis Advisors L.P. now owns 14,862 shares of the savings and loans company’s stock worth $431,000 after acquiring an additional 1,932 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Berkshire Hills Bancorp by 66.2% in the 1st quarter. Bank of Montreal Can now owns 31,848 shares of the savings and loans company’s stock valued at $936,000 after purchasing an additional 12,684 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on BHLB. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price objective on shares of Berkshire Hills Bancorp in a report on Friday, January 26th. Piper Sandler upgraded Berkshire Hills Bancorp from an “underweight” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Wednesday, January 10th. StockNews.com downgraded Berkshire Hills Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Seaport Res Ptn upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods lifted 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 research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.00.

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.