Equities analysts predict that Berkshire Hills Bancorp, Inc. (NYSE:BHLB – Get Rating) will post sales of $93.10 million for the current quarter, according to Zacks. Two analysts have issued estimates for Berkshire Hills Bancorp’s earnings, with the highest sales estimate coming in at $94.20 million and the lowest estimate coming in at $92.00 million. Berkshire Hills Bancorp posted sales of $101.29 million during the same quarter last year, which would indicate a negative year over year growth rate of 8.1%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.
On average, analysts expect that Berkshire Hills Bancorp will report full year sales of $386.15 million for the current financial year, with estimates ranging from $375.90 million to $396.40 million. For the next fiscal year, analysts expect that the business will report sales of $412.85 million, with estimates ranging from $397.30 million to $428.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Berkshire Hills Bancorp.
Berkshire Hills Bancorp (NYSE:BHLB – Get Rating) last announced its quarterly earnings results on Thursday, January 20th. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Berkshire Hills Bancorp had a net margin of 25.12% and a return on equity of 7.13%. The firm had revenue of $90.72 million during the quarter, compared to analysts’ expectations of $91.00 million. During the same period in the prior year, the company posted $0.28 EPS.
Shares of BHLB traded up $0.28 during trading hours on Friday, hitting $27.76. 10,080 shares of the stock were exchanged, compared to its average volume of 337,226. Berkshire Hills Bancorp has a fifty-two week low of $21.00 and a fifty-two week high of $31.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $29.83 and a 200-day moving average of $28.82. The firm has a market capitalization of $1.35 billion, a P/E ratio of 11.36 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 10th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 9th. This represents a $0.48 annualized dividend and a yield of 1.73%. Berkshire Hills Bancorp’s dividend payout ratio is currently 19.83%.
In related news, CEO Nitin J. Mhatre purchased 2,700 shares of the business’s stock in a transaction on Tuesday, January 25th. The stock was acquired at an average price of $29.48 per share, with a total value of $79,596.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey W. Kip purchased 10,000 shares of the business’s stock in a transaction on Monday, January 31st. The stock was bought at an average cost of $29.25 per share, with a total value of $292,500.00. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in BHLB. UMB Bank N A MO purchased a new stake in shares of Berkshire Hills Bancorp in the 4th quarter valued at $30,000. Advisor Group Holdings Inc. boosted its position in Berkshire Hills Bancorp by 100.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the savings and loans company’s stock valued at $42,000 after buying an additional 786 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Berkshire Hills Bancorp by 112.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,533 shares of the savings and loans company’s stock valued at $44,000 after buying an additional 811 shares during the period. Trust Co. of Vermont purchased a new stake in Berkshire Hills Bancorp during the 4th quarter valued at $128,000. Finally, American Century Companies Inc. purchased a new stake in Berkshire Hills Bancorp during the 4th quarter valued at $205,000. 78.17% of the stock is owned by institutional investors.
About Berkshire Hills Bancorp (Get Rating)
Berkshire Hills Bancorp, Inc operates as the 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.
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