FY2020 EPS Estimates for Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Decreased by Piper Sandler

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Berkshire Hills Bancorp, Inc. (NYSE:BHLB) – Piper Sandler reduced their FY2020 earnings per share estimates for Berkshire Hills Bancorp in a research note issued on Monday, June 29th. Piper Sandler analyst M. Fitzgibbon now expects that the savings and loans company will post earnings of $0.59 per share for the year, down from their prior forecast of $0.63. Piper Sandler currently has a “Overweight” rating and a $14.50 price target on the stock. Piper Sandler also issued estimates for Berkshire Hills Bancorp’s Q3 2021 earnings at $0.32 EPS, Q4 2021 earnings at $0.33 EPS and FY2021 earnings at $1.13 EPS.

Several other equities research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Berkshire Hills Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, June 8th. Compass Point lowered shares of Berkshire Hills Bancorp from a “neutral” rating to a “sell” rating in a research note on Wednesday, May 6th. Finally, DA Davidson lowered shares of Berkshire Hills Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $14.00 in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.63.

BHLB opened at $10.97 on Wednesday. Berkshire Hills Bancorp has a twelve month low of $9.15 and a twelve month high of $33.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $11.18 and a 200-day moving average of $20.75. The stock has a market cap of $550.53 million, a PE ratio of 10.25 and a beta of 1.30.

Berkshire Hills Bancorp (NYSE:BHLB) last posted its quarterly earnings data on Monday, May 4th. The savings and loans company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.57). Berkshire Hills Bancorp had a return on equity of 5.81% and a net margin of 9.42%. The firm had revenue of $92.06 million for the quarter, compared to analyst estimates of $107.73 million.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHLB. Advisor Group Holdings Inc. bought a new position in shares of Berkshire Hills Bancorp during the first quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Berkshire Hills Bancorp by 41.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,071 shares of the savings and loans company’s stock valued at $60,000 after purchasing an additional 1,193 shares in the last quarter. US Bancorp DE lifted its position in shares of Berkshire Hills Bancorp by 55.6% during the first quarter. US Bancorp DE now owns 7,048 shares of the savings and loans company’s stock valued at $105,000 after purchasing an additional 2,517 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Berkshire Hills Bancorp by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 12,823 shares of the savings and loans company’s stock valued at $191,000 after purchasing an additional 3,139 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Berkshire Hills Bancorp by 33.9% during the fourth quarter. Bank of Montreal Can now owns 5,980 shares of the savings and loans company’s stock valued at $196,000 after purchasing an additional 1,513 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date is Friday, June 26th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 40.00%.

Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc operates as a bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans.

Read More: Why Invest in Dividend Kings

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

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