Zacks: Analysts Expect Berkshire Hills Bancorp, Inc. (BHLB) to Post $0.64 EPS

Equities research analysts expect Berkshire Hills Bancorp, Inc. (NYSE:BHLB) to post $0.64 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Berkshire Hills Bancorp’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.64. Berkshire Hills Bancorp posted earnings per share of $0.55 in the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The company is expected to report its next earnings report after the market closes on Monday, April 23rd.

On average, analysts expect that Berkshire Hills Bancorp will report full year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.70 to $2.74. For the next financial year, analysts forecast that the firm will report earnings of $3.08 per share, with EPS estimates ranging from $3.00 to $3.20. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Berkshire Hills Bancorp.

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Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a return on equity of 7.09% and a net margin of 11.37%. The firm had revenue of $115.66 million for the quarter, compared to the consensus estimate of $115.50 million.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Piper Jaffray reiterated a “buy” rating and set a $42.50 price objective on shares of Berkshire Hills Bancorp in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $41.50.

In other Berkshire Hills Bancorp news, Director Richard L. Murphy bought 1,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $37.00 per share, with a total value of $37,000.00. Following the completion of the purchase, the director now directly owns 11,884 shares in the company, valued at $439,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick J. Sheehan bought 8,938 shares of the business’s stock in a transaction on Monday, February 5th. The shares were acquired at an average cost of $37.11 per share, with a total value of $331,689.18. Following the purchase, the director now owns 1,168 shares of the company’s stock, valued at $43,344.48. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 10,938 shares of company stock valued at $405,689. 1.71% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $217,000. Envestnet Asset Management Inc. grew its stake in shares of Berkshire Hills Bancorp by 236.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,162 shares of the savings and loans company’s stock valued at $116,000 after buying an additional 2,222 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Berkshire Hills Bancorp by 8.2% in the fourth quarter. Sterling Capital Management LLC now owns 29,948 shares of the savings and loans company’s stock valued at $1,096,000 after buying an additional 2,265 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at $688,000. Finally, Westwood Holdings Group Inc. grew its stake in shares of Berkshire Hills Bancorp by 109.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 692,521 shares of the savings and loans company’s stock valued at $25,346,000 after buying an additional 361,525 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

Shares of Berkshire Hills Bancorp stock opened at $37.40 on Friday. Berkshire Hills Bancorp has a one year low of $32.85 and a one year high of $40.10. The company has a market cap of $1,696.82, a P/E ratio of 16.26 and a beta of 0.65. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

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About Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc operates as a bank holding company, which engages in the provision of community banking services. The firm’s loan portfolio comprises of the following: commercial real estate; commercial and industrial; residential mortgage; and consumer. It also offers savings and checking accounts, deposits, lending, mortgages loans, insurance, and wealth management products.

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Earnings History and Estimates for Berkshire Hills Bancorp (NYSE:BHLB)

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